Red cat holdings, inc. announces pricing of public offering

San juan, puerto rico, dec. 06, 2023 (globe newswire) -- red cat holdings, inc. (nasdaq: rcat), (“red cat” or the “company”), today announced the pricing of its previously announced underwritten public offering of 16,000,000 shares of its common stock at a public offering price of $0.50 per share, for gross proceeds of $8,000,000, before deducting underwriting discounts, commissions and offering expenses. all of the shares of common stock are being offered by the company. in addition, the company has granted the underwriters a 45-day option to purchase up to an additional 2,400,000 shares of common stock at the public offering price less discounts and commissions, to cover over-allotments. the offering is expected to close on december 11, 2023, subject to satisfaction of customary closing conditions.
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