Red Cat Holdings, Inc. (RCAT) fell 22.52 percent to $5.77 during Thursday's trading, after announcing a $30 million registered direct offering.
Shares opened at $6.62 and traded between $5.75 and $6.75 on volume of 6.8 million, slightly above the average of 6.4 million on the Nasdaq. The stock is trading well above its 52-week low of $0.80 but far below the high of $15.27.
The drone technology company said it entered into securities purchase agreements with institutional investors to sell about 4.7 million shares of common stock. The offering, which is expected to close around April 11, 2025, will fund operations but also raised concerns over dilution.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.