Red Cat Holdings, Inc. — fact timeline

Red Cat Holdings, Inc. completed an acquisition involving Quaze Technologies Inc. for approximately $21 million of Closing Shares based on the twenty (20) day volume-weighted price of the Common Stock on The Nasdaq Capital Market as of May 18, 20 (closed 2026-05-19).

“consideration consisting of 1,923,308 shares (the “Closing Shares”) of the Company’s common stock, par value $0.001 per share (“Common Stock”), which represents approximately $21 million of Closing Shares based on the twenty (20) day volume-weighted price of the Common Stock on The Nasdaq Capital Market as of May 18, 2026. The closing consideration”

Red Cat Holdings, Inc. reported the quarter ended March 31, 2026 results: revenue $15.5 million.

“solutions for defense and national security, reports its financial results for the quarter ended March 31, 2026. First Quarter 2026 Financial Highlights Total revenue was $15.5 million, representing an increase of 849% from $1.6 million for the prior year quarter. Gross profit was $2.0 million, representing an increase of $2.8 million from the prior year”

Red Cat Holdings, Inc. entered into Share Purchase Agreement with 9563-4747 Quebec Inc. and the equity holders of Quaze Technologies Inc. valued at approximately $25,000,000 in shares of Company common stock as closing consideration, plus up to an (effective 2026-03-30).

“On March 30, 2026, Red Cat Holdings, Inc. (the “Company”), a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security, entered into a Share Purchase Agreement (the “Purchase Agreement”) with 9563-4747 Quebec Inc., a corporation formed under the laws of Quebec and a direct wholly-owned subsidiary of the Company (the “Purchaser”), the equity holders (the “Vendors”) of Quaze Technologies Inc., a corporation formed under the laws of Quebec (“Quaze”), and the Vendors’ Representative.”

Red Cat Holdings, Inc. reported year ended December 31, 2025 results: revenue $40.7 million.

“Full-year 2025 total revenue was $40.7 million”

Red Cat Holdings, Inc. engaged KPMG LLP as its auditor.

“ppointment of New Independent Registered Public Accounting Firm. On August 28, 2025, the Audit Committee approved the engagement of KPMG LLP (“KPMG”) as its new independent registered public accounting firm for the fiscal year ending December 31, 2025.”

Red Cat Holdings, Inc. dismissed dbbmckennon LLC as its auditor.

“ismissal of Independent Registered Public Accounting Firm On August 28, 2025, the Audit Committee of the Board of Directors of Red Cat Holdings, Inc. approved the decision to change its independent registered public accounting firm and dismissed dbbmckennon LLC (“dbbmckennon”) as its independent registered public accounting”

Christian Koji Ericson was appointed as Chief Financial Officer at Red Cat Holdings, Inc..

“On March 11, 2025, the Company appointed Christian Koji Ericson as the Company’s Chief Financial Officer, effective immediately after the filing of the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2024.”

Jeffrey Thompson was appointed as Interim Chief Financial Officer at Red Cat Holdings, Inc..

“appointed Jeffrey Thompson, the Company’s Chief Executive Officer and Chairman of the Board of Directors, as Interim Chief Financial Officer, effective from March 17, 2025”

Geoffrey Hitchcock was appointed as Chief Revenue Officer at Red Cat Holdings, Inc..

“On November 27, 2024, we appointed Geoffrey Hitchcock as our new Chief Revenue Officer.”

George Matus departed as Chief Technology Officer at Red Cat Holdings, Inc..

“On November 25, 2024, George Matus, our Chief Technology Officer and CEO of our subsidiary, Teal Drones, Inc., gave notice that he will be leaving his position in thirty (30) days.”

Red Cat Holdings, Inc. completed an acquisition involving Flightwave Aerospace Systems Corporation for $14 million worth of shares of the Parent’s common stock (closed 2024-09-24).

“to the Seller’s shareholders, including without limit, the indemnification provisions in the APA (discussed below). Consideration The purchase price under the APA is equal to $14 million worth of shares of the Parent’s common stock (the “Consideration Shares”) which are payable as follows: · $7 million worth of Parent’s common stock to be issued on September 30,”

Paul Funk, II was appointed as Chair, Nominating and Governance Committee at Red Cat Holdings, Inc..

“Paul Funk, II (3) Chair, Nominating and Governance Committee”

Red Cat Holdings, Inc. dismissed BF Borgers CPA PC as its auditor.

“In light of the Order, effective as of May 6, 2024, the Company's audit committee unanimously approved the decision to dismiss BF Borgers as the Company's independent registered public accounting firm.”

Red Cat Holdings, Inc. reported the upcoming fourth quarter results: revenue $7 million. Guidance raised.

“Our guidance for the upcoming fourth quarter of $7 million will be another record quarter”

Red Cat Holdings, Inc. reported the quarter ended January 31, 2024 results: revenue $5.8 million. Guidance raised.

“Record revenues of $5.8 million for fiscal third quarter ending January 31, 2024”

Leah Lunger was appointed as Interim Chief Financial Officer at Red Cat Holdings, Inc..

“In connection with Mr. Hernon’s transition to a consulting role, effective as of March 15, 2024, the Company appointed Leah Lunger as its Interim Chief Financial Officer, interim principal financial officer and interim principal accounting officer.”

Joseph Hernon resigned as Chief Financial Officer at Red Cat Holdings, Inc..

“Under the Addendum, effective as of March 15, 2024, Mr. Hernon shall resign without Good Reason (as defined in the Hernon Employment Agreement) as the Chief Financial Officer of the Company, and shall instead provide consulting services to the Company pursuant to the terms of the Hernon Consulting Agreement.”

Paul E. Funk II was appointed as Director at Red Cat Holdings, Inc..

“On March 12, 2024, upon the recommendation of its Governance and Nominating Committee, our Board of Directors appointed General (R) Paul E. Funk II to serve as a new member of our Board of Directors and to serve as a member of the Audit Committee of the Board.”

Red Cat Holdings, Inc. completed a disposition involving Unusual Machines, Inc. for $20 million (closed 2024-02-16).

“Advisors, Inc. Consideration for Sale of Consumer Division Under the SPA The total consideration received by the Company for its sale of Rotor Riot and Fat Shark was valued at $20 million, and consisted of the following elements: · $1 million in cash, which was paid from the proceeds of UMAC’s initial public offering; · $2 million in the form of a promissory note”

Red Cat Holdings, Inc. completed a disposition involving Unusual Machines, Inc. for $20 million (closed 2024-02-16).

“Advisors, Inc. Consideration for Sale of Consumer Division Under the SPA The total consideration received by the Company for its sale of Rotor Riot and Fat Shark was valued at $20 million, and consisted of the following elements: · $1 million in cash, which was paid from the proceeds of UMAC’s initial public offering; · $2 million in the form of a promissory note”

Joseph Hernon departed as Chief Financial Officer at Red Cat Holdings, Inc..

“On February 12, 2024, Joseph Hernon, Chief Financial Officer, principal financial and principal accounting officer of Red Cat Holdings, Inc. (the “Company”), provided notice of his intention to terminate his Executive Employment Agreement.”

Red Cat Holdings, Inc. amended Stock Purchase Agreement with Unusual Machines, Inc. and Jeffrey Thompson valued at $20 million (effective 2023-12-11).

“On December 11, 2023, Red Cat Holdings, Inc., a Nevada corporation (the “ Company ”), Unusual Machines, Inc., a Puerto Rico corporation (“ Unusual ”) and Jeffrey Thompson, the founder and Chief Executive Officer of the Company (the “ Principal Stockholder ”), entered into Amendment No. 4 to the Stock Purchase Agreement (the “ SPA ”) for the purchase and sale of the Company’s consumer business”

Red Cat Holdings, Inc. entered into Underwriting Agreement with ThinkEquity LLC valued at aggregate of 16,000,000 shares of the Company's common stock, par value $0.001 per share, at a publi (effective 2023-12-06).

“On December 6, 2023, Red Cat Holdings, Inc., a Nevada corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with ThinkEquity LLC, as representative of the underwriters (the “ThinkEquity”), pursuant to which the Company agreed to sell to the underwriters in a firm commitment underwritten public offering (the “Offering”) an aggregate of 16,000,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a public offering price of $0.50 per share.”

Red Cat Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

“tisfy a Continued Listing Rule or Standard; Transfer of Listing On November 28, 2023, Red Cat Holdings, Inc. (the “Company”) received a letter from The Nasdaq Stock Market, LLC (“Nasdaq”), indicating that the Company no longer meets the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) because the closing bid price for the Company’s common stock was less than $1.00 for the previous 30 consecutive business days. The letter has no immediate effect on the listing of the Company’s common stock on The Nasdaq Capital Market. Under Nasdaq”

George Matus was appointed as Chief Technology Officer at Red Cat Holdings, Inc..

“Also effective November 27, 2023, George Matus, founder and CEO of our wholly owned subsidiary Teal Drones (“Teal”), has been appointed as Chief Technology Officer of Red Cat Holdings, Inc.”

Joseph Hernon departed as Chief Financial Officer at Red Cat Holdings, Inc..

“our current Chief Financial Officer, Joseph Hernon, has notified us that he intends to retire at the end of his current employment contract on June 30, 2024.”

Allan Evans resigned as Chief Operating Officer at Red Cat Holdings, Inc..

“Effective November 27, 2023, Allan Evans has resigned his position as our Chief Operating Officer.”

Red Cat Holdings, Inc. shareholders approved Approval of amendment to 2019 Equity Incentive Plan to increase shares authorized for issuance from 8,750,000 to 11,750,000 at the 2023-11-06 meeting.

“The third proposal considered by shareholders – approval of an amendment to our 2019 Equity Incentive Plan to increase in the number of shares authorized for issuance under the Plan from 8,750,000 shares to 11,750,000 shares – was approved by a vote of 26,202,747 in favor, 1,360,161 against, 88,642 abstaining, and 11,963,707 broker non-votes.”

Red Cat Holdings, Inc. shareholders approved Ratification of the appointment of BF Borgers, CPA, PC as the company’s audit firm and independent registered public accounting firm at the 2023-11-06 meeting.

“The second proposal considered by shareholders -- ratification of the appointment of BF Borgers, CPA, PC as the company’s audit firm and independent registered public accounting firm – was approved by a vote of 38,567,507 in favor, 685,186 against, 362,564 abstaining, and 0 broker non-votes.”

Red Cat Holdings, Inc. shareholders approved Election of Directors at the 2023-11-06 meeting.

“Our shareholders elected existing directors Jeffrey Thompson, Joseph Freedman, Nicholas Liuzza, Jr., and Christopher Moe to each serve for an additional one-year term.”

Red Cat Holdings, Inc. reported fiscal second quarter and third fiscal quarter results: revenue $3 million for our second fiscal quarter and $5 million for our third fiscal quarter. Guidance initiated.

“We are providing revenue guidance for our Enterprise segment of $3 million for our second fiscal quarter and $5 million for our third fiscal quarter”

Red Cat Holdings, Inc. reported financial results for the fiscal quarter ended July 31, 2023.

“Red Cat Holdings, Inc. (the "Company") issued a press release and will hold a conference call regarding its financial results for the quarter ended July 31, 2023.”

Red Cat Holdings, Inc. reported the fiscal third quarter (three months ending January 31, 2024) results: revenue $5.0 million. Guidance initiated.

“and revenue for the fiscal third quarter (three months ending January 31, 2024) is expected to be $5.0 million”

Red Cat Holdings, Inc. reported the fiscal second quarter (three months ending October 31, 2023) results: revenue $3.0 million. Guidance initiated.

“Revenue for the fiscal second quarter (three months ending October 31, 2023) is expected to be $3.0 million”

Red Cat Holdings, Inc. reported the three months ended July 31, 2023 results: revenue $1.75 million. Guidance reaffirmed.

“Revenue in the fiscal first quarter for the three months ending July 31, 2023 was $1.75 million.”

Red Cat Holdings, Inc. entered into Sales Agreement with ThinkEquity LLC valued at up to $17,000,000 (effective 2023-08-08).

“On August 8, 2023, we entered into an ATM Sales Agreement (the “Sales Agreement”) with ThinkEquity LLC, as sales agent (the “Sales Agent”), pursuant to which we may issue and sell shares of our common stock, $0.001 par value per share, having an aggregate offering price of up to $17,000,000 (the “Shares”), from time to time through the Sales Agent (the “Offering”).”

Mary Beth Long resigned as director at Red Cat Holdings, Inc..

“On July 25, 2023, Mary Beth Long resigned as director of the Company.”

Red Cat Holdings, Inc. amended Amendment No. 2 to SPA (the “Second Amendment”) with Unusual Machines, Inc. and Jeffrey Thompson (effective 2023-07-10).

“On July 10, 2023, the parties entered into Amendment No. 2 to SPA (the “Second Amendment”). Under the Second Amendment the parties agreed to extend the termination date of the SPA until September 30, 2023 and remove the requirement that the Principal”

Red Cat Holdings, Inc. amended Amended and Restated Amendment with Unusual Machines, Inc. (effective 2023-04-13).

“On April 13, 2023, we entered into an Amended and Restated Amendment to the SPA (the “ Amended and Restated Amendment ”). The Amended and Restated Amendment contains provisions identical to those in the Amendment signed March 31, 2023, with the additional provision that the required minimum amount of Unusual’s initial public offering has been reduced from $15 million to $10 million.”

Red Cat Holdings, Inc. amended Amendment with Unusual Machines, Inc. valued at $3.0 million (effective 2023-03-31).

“On March 31, 2023, the SPA was amended (the “ Amendment ”). Under the Amendment, the cash consideration payable at closing was reduced to $3.0 million”

Red Cat Holdings, Inc. entered into Stock Purchase Agreement with Unusual Machines, Inc. (effective 2022-11-21).

“On November 21, 2022, Red Cat Holdings, Inc., a Nevada corporation (the “ Company ”), Unusual Machines, Inc., a Puerto Rico corporation (“ Unusual ”) and Jeffrey Thompson, the founder and Chief Executive Officer of the Company (the “ Principal Stockholder ”), entered into a Stock Purchase Agreement (the “ SPA ”) for the purchase and sale of the Company’s consumer business consisting of recreational and hobbyist drones, first-person-view goggles, and as a licensed authorized reseller.”

Red Cat Holdings, Inc. entered into Engagement with WaveCrest Securities LLC with WaveCrest Securities LLC valued at Fixed fee of $25,000, plus $5,000 per month commencing May 5, 2023, and a six (6%) percent success f (effective 2023-03-31).

“On March 31, 2023, the Company engaged WaveCrest Securities LLC and agreed to a fixed fee of $25,000, plus $5,000 per month commencing May 5, 2023, and a six (6%) percent success fee, plus reimbursement of expenses, upon closing of an alternative transaction.”

Red Cat Holdings, Inc. amended Amendment to Stock Purchase Agreement with Unusual Machines, Inc. valued at Cash consideration reduced to $3.0 million, plus $17 million in shares of Unusual common stock (effective 2023-03-31).

“On March 31, 2023, the SPA was amended (the “ Amendment ”). Under the Amendment, the cash consideration payable at closing was reduced to $3.0 million, as may be adjusted for working capital on the closing date (increased for positive working capital and decreased for negative working capital), and the non-cash consideration adjusted to provide for payment of $17 million in shares of Unusual’s common stock, par value $0.01 per share (the “ Unusual Common Stock ”) issued at the initial public offering price for the Unusual Common Stock.”

Red Cat Holdings, Inc. shareholders approved Approval of the sale by the Company of Rotor Riot, LLC and Fat Shark Holdings to Unusual Machines at the 2023-03-08 meeting.

“The first proposal considered by shareholders – approval of the sale by the Company of Rotor Riot, LLC and Fat Shark Holdings to Unusual Machines – was approved by a vote of 21,840,866 in favor, 1,674,705 against, 12,340,757 abstaining.”

Red Cat Holdings, Inc. entered into Stock Purchase Agreement with Unusual Machines, Inc. and Jeffrey Thompson valued at $18 million (effective 2022-11-21).

“Under the terms of the SPA, upon satisfaction of closing conditions including the affirmative vote of the shareholders of the Company, UM will purchase Rotor Riot, LLC, an Ohio limited liability company (“ RR ”), and Fat Shark Holdings, Ltd., a Nevada corporation (“ FS ”), for $18 million in cash and securities of UM, as more fully-described below.”

Mary Beth Long was appointed as Director at Red Cat Holdings, Inc..

“On November 11, 2022, the board of directors (the “Board”) of Red Cat Holdings, Inc. (the “Company”) appointed The Honorable Mary Beth Long to the Board to fill a vacancy created by resignation.”

Christopher R. Moe was appointed as Director at Red Cat Holdings, Inc..

“Effective February 16, 2022, upon the recommendation of its Governance and Nominating Committee, our Board of Directors appointed Christopher R. Moe to serve as a new member of our Board of Directors and to serve as a member of the Audit Committee of the Board.”

Patrick R. Mitchell resigned as Director at Red Cat Holdings, Inc..

“Patrick R. Mitchell has tendered his resignation as a member of our Board of Directors effective February 15, 2022.”

George Matus was appointed as Chief Executive Officer of Teal at Red Cat Holdings, Inc..

“On September 1, 2021 the Company and George Matus entered into an employment agreement under which Mr. Matus will serve as Chief Executive Officer of Teal.”