---
schema_version: "secwatch.filing_event.v1"
accession: "0001554795-24-000325"
form_type: "8-K"
ticker: "RCAT"
cik: "0000748268"
company_name: "Red Cat Holdings, Inc."
filed_at: "2024-11-27T23:59:59+00:00"
generated_at: "2026-05-29T17:23:21.725760+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Red Cat receives $6M from Lind via $7.2M convertible note and warrants

## Summary
- Net $6M funding ($210k commitment fee deducted) in exchange for a $7.2M senior secured convertible note and a 5-year warrant for 326,000 shares at $9.20.
- Note bears no interest; repaid in 18 monthly installments of $400k starting six months post-issuance.
- Repayment optional in cash (1.025x) or shares valued at 90% of the 5 lowest VWAPs over 20 trading days (floor $0.75).
- Conversion price $9.20; on prepayment, Lind may convert up to 25% of principal at lower of formula price or conversion price.
- Additional warrant: 326,000 shares at $9.20, exercisable for 5 years; registration of underlying shares required within 5 days.

## SEC filing metadata
- accession: 0001554795-24-000325
- form_type: 8-K
- ticker: RCAT
- cik: 0000748268
- company_name: Red Cat Holdings, Inc.
- filed_at: 2024-11-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/748268/000155479524000325/0001554795-24-000325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/748268/000155479524000325/rcat1127form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001554795-24-000325
- JSON: https://secwatch.observer/filing/0001554795-24-000325.json
- Plain text: https://secwatch.observer/filing/0001554795-24-000325.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.