Red Cat Holdings amends Lind note: principal to $18.15M, conversion price cut to $9.52

Red Cat Holdings, Inc.

Note balance increased from $16.5M to $18.15M; maturity extended to May 10, 2026.
Conversion price lowered from $16.15 to $9.52 per share; warrant exercise price cut from $15.00 to $7.62.
Company may pay up to 50% of conversion amount in cash at a 2.5% premium (100% for April 2025).
Price reset, offering proceeds, and participation rights waived through April 17, 2025.
Warrant for 1,000,000 shares at $7.62; original $15M funding from Lind on February 10, 2025.

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