SAN JUAN, Puerto Rico, Sept. 19, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (NASDAQ:RCAT) ("Red Cat" or "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, announced today the pricing of an underwritten public offering of 17,968,750 shares of common stock, including the full exercise of the underwriters' option to purchase 2,343,750 additional shares on September 19, 2025. The gross proceeds from the offering to the Company were approximately $172.5 million, before deducting underwriting discounts and commissions and other offering expenses.

The Company intends to use net proceeds from the offering 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 acted as sole bookrunner and Ladenburg Thalmann & Co. Inc. acted as co-manager for this transaction.

A shelf registration statement on Form S-3 relating to the securities offered in the public offering described above was filed with the Securities and Exchange Commission (the "SEC") on September 15, 2025 (File No. 333- 290259) and declared effective by the SEC on September 17, 2025. The offering was ...