---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-048228"
form_type: "8-K"
ticker: "RCAT"
cik: "0000748268"
company_name: "Red Cat Holdings, Inc."
filed_at: "2026-10-23T20:05:19+00:00"
generated_at: "2026-10-23T20:07:33.231154+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Red Cat launches EUR 39/share cash offer for Steyr Motors, 28.9% premium to Oct 16 close

## Summary
- Offer of EUR 39.00 in cash per share for all 5,251,261 Steyr Motors shares, implying roughly EUR 205M equity value; acceptance runs to Dec 18, 2026, 5:00 p.m. CET.
- Price is a 28.9% premium to the Oct 16, 2026 close, 27.3% to the 30-day VWAP and 55.8% to the 52-week low.
- Anchor shareholder B&C Holding Österreich GmbH, about 15% of share capital, signed an irrevocable tender undertaking; Steyr's Executive and Supervisory Boards support the deal.
- Conditions: foreign investment approvals in Austria, Australia, Italy and UK by June 30, 2027, plus a 50%-plus-one-share minimum acceptance threshold, waivable by the Bidder.
- Red Cat intends to keep Steyr's Austrian HQ, manufacturing and R&D, and cites the deal as support for its Blue Ops uncrewed surface vessel strategy; Evercore and Freshfields advise.

## SEC filing metadata
- accession: 0001493152-26-048228
- form_type: 8-K
- ticker: RCAT
- cik: 0000748268
- company_name: Red Cat Holdings, Inc.
- filed_at: 2026-10-23T20:05:19+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/748268/000149315226048228/0001493152-26-048228-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/748268/000149315226048228/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-048228
- JSON: https://secwatch.observer/filing/0001493152-26-048228.json
- Plain text: https://secwatch.observer/filing/0001493152-26-048228.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.