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Red Cat Holdings, Inc. (NASDAQ:RCAT) ("Red Cat" or "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, announced today that it intends to offer and sell shares of its common stock in an underwritten public offering. In connection with the offering, Red Cat also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
The Company intends to use net proceeds from the offering for general corporate and working capital purposes, including but not limited to operating expenditures and capital investments related to its new unmanned surface vessel division.
Northland Capital Markets is acting as sole bookrunner for the transaction.
Posted In: RCAT
