Red Cat issues 2.16M shares to complete FlightWave acquisition; 381,750 shares escrowed

Red Cat Holdings, Inc.

Authorized 2,163,242 common shares to FlightWave stockholders on Sept 30, 2024 as acquisition consideration.
Reserved 381,750 shares in escrow for 18 months to cover indemnification obligations.
Issuance was exempt from registration under Section 4(a)(2) of the Securities Act.
Part of the previously disclosed Asset Purchase Agreement (8-K dated Sept 9, 2024).

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