Red Cat Holdings, Inc. (RCAT): M&A transaction — Red Cat Closes $14M Stock Acquisition of FlightWave Aerospace

Red Cat Holdings, Inc.

Acquired FlightWave Aerospace for $14M in RCAT stock, payable in two tranches on Sep 30 and Dec 31, 2024.
FlightWave's Edge 130 Blue is Blue UAS approved military-grade tricopter with up to 2-hour endurance.
Acquisition adds new revenue stream and complements Red Cat's Teal 2 and FANG FPV drones.
15% of Consideration Shares placed in escrow for 2-year indemnification obligations.
CEO Jeff Thompson calls it transformative; manufacturing ramp to begin this quarter.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Red Cat Holdings, Inc. completed an acquisition involving Flightwave Aerospace Systems Corporation for $14 million worth of shares of the Parent’s common stock (closed 2024-09-24).

Action: acquisition
Counterparty: Flightwave Aerospace Systems Corporation
Consideration: $14 million worth of shares of the Parent’s common stock
Closing: 2024-09-24

Exact text from the filing

to the Seller’s shareholders, including without limit, the indemnification provisions in the APA (discussed below). Consideration The purchase price under the APA is equal to $14 million worth of shares of the Parent’s common stock (the “Consideration Shares”) which are payable as follows: · $7 million worth of Parent’s common stock to be issued on September 30,

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Red Cat Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001554795-24-000227

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