Red Cat Holdings, Inc. Announces Closing of $9.2 Million Public Offering
December 11 2023 - 4:30PM
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.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.
Forward-Looking StatementsThis
press release contains “forward-looking statements” as defined by
the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. In some cases, you can identify
forward-looking statements by terms such as “may,” “might,” “will,”
“objective,” “intend,” “should,” “could,” “can,” “would,” “expect,”
“believe,” “design,” “estimate,” “predict,” “potential,” “plan” or
the negative of these terms and similar expressions intended to
identify forward-looking statements. These statements include
statements related to the intended use of proceeds. Red Cat
Holdings, Inc. cautions readers that forward-looking statements are
based on management’s expectations and assumptions as of the date
of this news release and are subject to certain risks and
uncertainties that could cause actual results to differ materially,
including, but not limited to, risks related to prevailing market
conditions, the impact of general economic, industry or political
conditions in the United States, and Red Cat Holdings Inc.’s
ability to satisfy customary closing conditions associated with the
offering. Forward-looking statements reflect its analysis only on
their stated date, and Red Cat Holdings, Inc. undertakes no
obligation to update or revise these statements except as may be
required by law.
Investor Contact
NEWS MEDIA:CORE Public RelationsPhone: (516)
222-2560Email: media@redcat.red
INVESTORS:CORE IRPhone: (516)
222-2560Email: investors@redcat.redWebsite: https://www.redcatholdings.com
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