Red Cat closes acquisition of Quaze Technologies for ~$21M in stock plus up to $5M earnout

Red Cat Holdings, Inc.

1,923,308 shares of common stock issued as closing consideration (~$21M based on 20-day VWAP).
Earnout consideration of up to $5M in additional shares subject to integration, revenue and gross margin thresholds.
Quaze develops wireless power technology for drones and robots, enabling autonomous recharging without connectors.
Quaze to operate as an independent Red Cat business unit while maintaining platform-agnostic third-party model.
Acquisition addresses power bottleneck for persistent autonomous operations across air, land and maritime domains.

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