Red Cat Raises $225M in Public Offering of Common Stock

Red Cat Holdings, Inc. completed an underwritten public offering, selling 23,936,171 shares of its common stock at $9.40 per share. This offering generated approximately $225.0 million in gross proceeds for the company. Red Cat also granted the underwriters a 30-day option to purchase up to 3,590,425 additional shares. The net proceeds are earmarked for general corporate purposes and accelerating strategic growth initiatives, including potential acquisitions, business expansion, research and development, capital expenditures, and working capital.