Red Cat announces $30M registered direct offering of common stock

Red Cat (RCAT) Holdings has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 4,724,412 shares of common stock, pursuant to a registered direct offering, expected to result in gross proceeds of approximately $30M, before deducting placement agent fees and other offering expenses. The offering is expected to close on or about April 11, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use net proceeds from the offering for general corporate purposes, including working capital. Northland Capital Markets is acting as the exclusive placement agent for the transaction.