Red Cat raises ~$30M in registered direct offering of 4.7M shares at $6.35/share

Red Cat Holdings, Inc.

Gross proceeds ~$30M from sale of 4,724,412 shares at $6.35 per share in registered direct offering.
Offering expected to close April 11, 2025; net proceeds for general corporate purposes and working capital.
Northland Capital Markets acts as exclusive placement agent; fee is 6.0% of gross proceeds.
Officers and directors subject to 30-day lock-up on disposal or hedging of common stock.
Shares sold under effective shelf registration statement on Form S-3 declared effective Dec 2024.

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