SAN JUAN, Puerto Rico, Dec. 11, 2023 (GLOBE NEWSWIRE) – Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced the closing of its previously announced public offering of 18,400,000 shares of its common stock, including 2,400,000 shares sold upon full exercise of the underwriter’s option to purchase additional shares, at a public offering price of $0.50 per share for gross proceeds of $9,200,000, before deducting underwriting discounts and offering expenses.
The Company intends to use the proceeds from the offering for general corporate purposes, working capital, and capital expenditures.
ThinkEquity acted as sole book-running manager for the offering.
The offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). The final prospectus supplement relating to the offering was filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Red Cat Holdings, Inc.
About Red Cat Holdings, Inc.
Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government and commercial operations. Red Cat’s solutions are designed to “Dominate the Night™” and include the Teal 2, a small unmanned system offering the highest-resolution thermal imaging in its class. Learn more at www.redcatholdings.com.
“RED CAT HOLDINGS, INC. ANNOUNCES CLOSING OF $9.2 MILLION PUBLIC OFFERING” SAN JUAN, Puerto Rico, Dec. 11, 2023
Press Releases, Red Cat Holdings, https://ir.redcatholdings.com/news-events/press-releases/detail/125/red-cat-holdings-inc-announces-closing-of9-2-million.
Press Release, Published on Red Cat Holdings Website.
The Crone Law Group P.C. acted as counsel to the Underwriters in connection with the offering.
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