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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