Red Cat prices 16M-share public offering at $0.50/share; gross proceeds $8M

Red Cat Holdings, Inc.

16,000,000 shares priced at $0.50 per share; gross proceeds $8M, net proceeds ~$7.25M.
Underwriters granted 45-day option for up to 2,400,000 additional shares to cover over-allotments.
Proceeds to be used for general corporate purposes, working capital, and capital expenditures.
Offering expected to close December 11, 2023, subject to customary conditions.
ThinkEquity LLC acting as sole book-running manager for the offering.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Red Cat Holdings, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at aggregate of 16,000,000 shares of the Company's common stock, par value $0.001 per share, at a publi (effective 2023-12-06).

Action: entry
Agreement: underwriting
Counterparty: ThinkEquity LLC
Value: aggregate of 16,000,000 shares of the Company's common stock, par value $0.001 per share, at a publi
Effective: 2023-12-06

Exact text from the filing

On December 6, 2023, Red Cat Holdings, Inc., a Nevada corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC, as representative of the underwriters (the “ThinkEquity”), pursuant to which the Company agreed to sell to the underwriters in a firm commitment underwritten public offering (the “Offering”) an aggregate of 16,000,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.50 per share.

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Red Cat Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001554795-23-000366

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