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Red Cat Holdings (RCAT) just unveiled an update.
On July 22, 2024, Red Cat Holdings, Inc. completed the sale of its entire stake in Unusual Machines, Inc., involving a complex exchange and sale of common and preferred stock, along with promissory notes, for a total cash consideration of $4.4 million. The deal included a working capital adjustment of $2 million and was announced in a press release by the Company. These financial maneuvers, settled through various agreements, are poised to impact investors and the market with a significant reshuffling of ownership and investment in the tech sector.
Learn more about RCAT stock on TipRanks’ Stock Analysis page.
