Red Cat announces $46.75M registered direct offering of common stock

TipRanks

Wed, Jun 18, 2025, 9:25 AM 1 min read

Red Cat (RCAT) Holdings announced that the Company has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 6,448,276 shares of common stock, pursuant to a registered direct offering, expected to result in gross proceeds of approximately $46.75 million, before deducting placement agent fees and other offering expenses. The offering is expected to close on or about June 18, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures related to its new unmanned surface vessel division. Northland Capital Markets is acting as the exclusive placement agent for the transaction.

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