Red Cat Holdings, Inc. announces public offering of common shares

HUMACAO, Puerto Rico, July 16, 2021 /PRNewswire/ — Red Cat Holdings, Inc. (NASDAQ: RCAT) (“Red Cat” or the “Company”), a technology provider to the drone industry, announced today that it plans to sell shares of its common stock in a guaranteed public offering. All ordinary shares must be sold by the Company.

ThinkEquity, a division of Fordham Financial Management, Inc., is acting as the sole book-running manager for the offering.

The offering is subject to market conditions and no assurance can be given as to whether or when the offering may be completed, or as to the actual scope or terms of the offering.

The Company intends to use the net proceeds of the offering primarily for general corporate purposes.

The securities will be offered and sold in accordance with a shelf registration statement on Form S-3 (File Number 333-256216), including a base prospectus, filed with the US Securities and Exchange Commission (the “SEC”) on May 17, 2021 and declared effective on June 14, 2021. The offer will only be made by means of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering have been or will be filed with the SEC on its website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may also be obtained, if available, from the offices of ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, by phone at (877) 436-3673 or by email at [email protected]. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and accompanying prospectus and other documents filed by the Company with the SEC and incorporated by reference in such preliminary prospectus supplement and accompanying prospectus, which contain more information about the Company and any such offering.

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This press release does not constitute an offer to sell or a solicitation of an offer to purchase, nor will there be any sale of these securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Red Cat Holdings, Inc.

Red Cat provides products, services and solutions to the drone industry. The spectrum of companies in Red Cat’s portfolio, spanning multiple industries and segments, offers a diverse and comprehensive reach across multiple markets, including: enterprise remote flight technology; SaaS solutions for secure flight data storage; consumer hardware and communication technology; and consumer e-commerce and lifestyle brands. For more information about Annovis, visit the company’s website: https://www.redcatholdings.com/.

Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to significant risks and uncertainties. All statements, other than statements of historical fact, in this press release are forward-looking statements. Forward-looking statements in this press release can be identified by the use of words such as “anticipate,” “believe,” “consider,” “may,” “estimate,” “expect,” “intend,” “seek,” “may “,” might”, “plan”, “potential”, “forecast”, “project”, “goals”, “striving”, “should”, “will”, “should”, or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations. and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. In addition, certain forward-looking statements are based on assumptions about future events that may prove incorrect. These and other risks and uncertainties are described in more detail in the section entitled “Risk Factors” in the final prospectus relating to the public offering filed with the Securities and Exchange Commission. Forward-looking statements in this announcement are made as of this date, and Red Cat Holdings, Inc. assumes no obligation to update such information except as required under applicable law.

For questions about investor relations:

Chad Hairdresser
Phone: (818) 906-4701
Email: [email protected]

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SOURCE Red Cat Holdings, Inc.