InvestmentMay 12, 2026, 11:19 PM
Red Cat Holdings Prices Public Offering at $9.40/Share for $225M
AI Summary
Red Cat Holdings, Inc. announced the pricing of an underwritten public offering of 23,936,171 shares of its common stock at $9.40 per share. The offering is expected to generate approximately $225.0 million in gross proceeds for the company. Red Cat intends to use the net proceeds for general corporate purposes and to accelerate strategic growth initiatives, including potential acquisitions, business expansion, research and development, capital expenditures, and working capital. The offering is anticipated to close around May 14, 2026.
Key Highlights
- Red Cat Holdings priced an underwritten public offering at $9.40 per share.
- The company is selling 23,936,171 shares of common stock.
- Gross proceeds are expected to be approximately $225.0 million.
- Underwriters have a 30-day option to purchase up to an additional 3,590,425 shares.
- Net proceeds will be used for general corporate purposes and strategic growth initiatives.
- The offering is expected to close on or about May 14, 2026.
- Evercore ISI and BofA Securities are joint lead bookrunners for the offering.