Red Cat Holdings, Inc. Announces Proposed Public Offering of Common Stock
06 Dezember 2023 - 11:15PM
Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”)
today announced that it intends to offer to sell shares of its
common stock in an underwritten public offering. All of the shares
of common stock are to be sold by the Company.
ThinkEquity is acting as sole book-running
manager for the offering.
The Company expects to grant the underwriter a
45-day option to purchase up to an additional 15% of the number of
shares of common stock sold in this offering to cover
over-allotments, if any. The offering is subject to market
conditions and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
The Company intends to use the proceeds from the
offering for general corporate purposes, working capital and
capital expenditures.
The securities will be offered and sold pursuant
to a shelf registration statement on Form S-3 (File No.
333-256216), including a base prospectus, filed with the U.S.
Securities and Exchange Commission (the “SEC”) on June 11, 2021 and
declared effective on June 14, 2021. The offering will be made only
by means of a written prospectus. A preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering has been or will be filed with the SEC on its website at
www.sec.gov. Copies of the preliminary prospectus supplement and
the accompanying prospectus relating to the offering may also be
obtained from the offices of ThinkEquity, 17 State Street, 41st
Floor, New York, New York 10004. Before investing in this offering,
interested parties should read in their entirety the preliminary
prospectus supplement and the accompanying prospectus and the other
documents that the Company has filed with the SEC that are
incorporated by reference in such preliminary prospectus supplement
and the accompanying prospectus, which provide more information
about the Company and such offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction.
About Red Cat Holdings, Inc.Red
Cat (Nasdaq: RCAT) is a drone technology company integrating
robotic hardware and software for military, government and
commercial operations. Red Cat’s solutions are designed to
“Dominate the Night™” and include the Teal 2, a small unmanned
system offering the highest-resolution thermal imaging in its
class. Learn more at www.redcatholdings.com.
Forward-Looking StatementsThis
press release contains "forward-looking statements" that are
subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as "anticipate," "believe," "contemplate," "could,"
"estimate," "expect," "intend," "seek," "may," "might," "plan,"
"potential," "predict," "project," "target," "aim," "should,"
"will," "would," or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on Red Cat
Holdings, Inc.'s current expectations and are subject to inherent
uncertainties, risks and assumptions that are difficult to predict.
Further, certain forward-looking statements are based on
assumptions as to future events that may not prove to be accurate.
These and other risks and uncertainties are described more fully in
the section titled "Risk Factors" in the final prospectus related
to the public offering filed with the Securities and Exchange
Commission. Forward-looking statements contained in this
announcement are made as of this date, and Red Cat Holdings, Inc.
undertakes no duty to update such information except as required
under applicable law.
For Investor Relations
Inquiries:NEWS MEDIA:CORE Public RelationsPhone: (516)
222-2560Email: media@redcat.red
INVESTORS:CORE IRPhone: (516) 222-2560Email:
investors@redcat.redWebsite: https://www.redcatholdings.com
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