Red Cat raises up to $20M debt financing from Lind; applies for $58M from DoD OSC

Red Cat Holdings, Inc.

Entered agreement with Lind Partners for up to $20M; initial tranche of $15M closed on Feb 10, 2025.
Senior secured convertible note face amount $16.5M, convertible at $16.15/share; 1M warrants at $15/share.
Applied for $58M debt financing from DoD Office of Strategic Capital to scale production of Black Widow, Edge 130, FANG drones.
Note due Feb 10, 2026, no interest, secured by all assets; commitment fee $525,000 may be deducted from funding.
Funds to expedite Edge 130 factory and ramp up mass production of Black Widow for U.S. DoD and NATO allies.

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