Red Cat raises ~$172.5M in public offering of 17.97M shares at $9.60/share

Red Cat Holdings, Inc.

Priced 15.625M base shares at $9.60; underwriters’ option for 2.34375M additional shares exercised in full.
Gross proceeds of ~$172.5M; net proceeds for general corporate & working capital, including new USV division.
Offering closed Sept 19, 2025; lock-up: 60 days for most insiders, 90 days for CEO.
Lind waived certain rights under existing convertible notes until Sept 26, 2025 in connection with offering.

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