Red Cat Holdings, Inc. (RCAT), a drone technology company, on Thursday announced that the pricing of an underwritten public offering of 15,625,000 shares of common stock at $9.60 per share.
The offering is expected to close on or about September 19.
Gross proceeds are expected to be about $150 million, before underwriting discounts, commissions, and expenses.
The company has granted underwriters a 30-day option to purchase up to 2,343,750 additional shares at the public offering price, less underwriting discount.
Red Cat said it plans to use the net proceeds for general corporate and working capital purposes, including operating expenditures related to its new unmanned surface vessel division.
In the pre-market trading, Red Cat Holdings closed trading 10.12% lesser at $10.13 on the Nasdaq.
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.