{"schema_version":"secwatch.filing_event.v1","accession":"0001554795-23-000371","form_type":"8-K","ticker":"RCAT","cik":"0000748268","company_name":"Red Cat Holdings, Inc.","filed_at":"2023-12-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.940367+00:00","generated_at":"2026-06-07T12:20:10.417440+00:00","sec_items":["1.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Red Cat amends sale of consumer drone business; $20M consideration: $1M cash, $2M note, $17M stock","bullets":["Consideration revised to $20M: $1M cash from IPO proceeds, $2M 8% promissory note, $17M in Unusual common stock at IPO price.","Minimum IPO proceeds for Unusual reduced from $10M to $5M; outside closing date extended to May 31, 2024.","$2M promissory note bears 8% interest, due 18 months from issue; convertible at 10% discount to VWAP, subject to 4.99% ownership limit.","Dr. Allan Evans named as new CEO of Unusual; employment agreement referenced in amendment."],"urls":{"canonical":"https://secwatch.observer/filing/0001554795-23-000371","json":"https://secwatch.observer/filing/0001554795-23-000371.json","markdown":"https://secwatch.observer/filing/0001554795-23-000371.md","text":"https://secwatch.observer/filing/0001554795-23-000371.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/748268/000155479523000371/0001554795-23-000371-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/748268/000155479523000371/rcat1215form8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T12:20:10.417440+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ff6516df62705cfaed56189ad1847bd073921b03","claim":"Red Cat Holdings, Inc. amended Stock Purchase Agreement with Unusual Machines, Inc. and Jeffrey Thompson valued at $20 million (effective 2023-12-11).","evidence_excerpt":"On December 11, 2023, Red Cat Holdings, Inc., a Nevada corporation (the “ Company ”), Unusual Machines, Inc., a Puerto Rico corporation (“ Unusual ”) and Jeffrey Thompson, the founder and Chief Executive Officer of the Company (the “ Principal Stockholder ”), entered into Amendment No. 4 to the Stock Purchase Agreement (the “ SPA ”) for the purchase and sale of the Company’s consumer business","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/748268/000155479523000371/0001554795-23-000371-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Unusual Machines, Inc. and Jeffrey Thompson"},{"label":"Value","value":"$20 million"},{"label":"Effective","value":"2023-12-11"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}