TechMediaBreaks – Red Cat Holdings Inc. (NASDAQ: RCAT) Announces Pricing of Underwritten Public Offering
Red Cat (NASDAQ: RCAT) has announced the pricing of its underwritten public offering of 16,000,000 shares of its common stock, each at a public offering price of $0.50, for gross proceeds of $8,000,000. According to the announcement, all of the shares of common stock are being offered by the company. In addition, Red Cat 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. Subject to the satisfaction of customary conditions, the offering is expected to close on Dec. 11, 2023.…