Red cat holdings, inc. announces closing of public offering

Humacao, puerto rico, july 21, 2021 /prnewswire/ -- red cat holdings, inc. (nasdaq: rcat) ("red cat" or the "company") a technology provider to the drone industry, today announced the closing of its underwritten public offering of 13,333,334 shares of its common stock at a public offering price of $4.50 per share, for gross proceeds of approximately $60,000,000, before deducting underwriting discounts, commissions and offering expenses. in addition, the company has granted the underwriters a 45-day option to purchase up to an additional 2,000,000 shares of common stock to cover over-allotments at the offering price, less the underwriting discount.
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