Red Cat Holdings (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, has announced its entry 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. The company anticipates gross proceeds of approximately $46.75 million from the offering, which, subject to the satisfaction of customary conditions, is expected to close on or about June 18, 2025. Red Cat intends to use net proceeds 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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About Red Cat Holdings Inc.

Red Cat is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow(TM), a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (“SRR”) Program of Record contract. The Family of Systems also includes TRICHON(TM), a fixed wing VTOL for extended endurance and range, and FANG(TM), the industry’s first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

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