Red Cat Holdings (RCAT, Financial) has successfully negotiated securities purchase agreements with select institutional investors to facilitate the purchase of approximately 4.7 million shares of common stock. This strategic move, structured as a registered direct offering, is projected to generate roughly $30 million in gross proceeds, prior to the deduction of placement agent fees and other related expenses.
The closing of this transaction is anticipated on or around April 11, 2025, pending standard closing conditions. The company plans to allocate the net proceeds from this offering towards general corporate needs, including bolstering its working capital. In this transaction, Northland Capital Markets is serving as the sole placement agent, playing a key role in executing the offering.
