Red Cat Holdings Inc.
Red Cat Holdings, Inc. Announces Amendment to Securities Purchase Agreement with Lind Global Asset Management X LLC
Summary
On November 26, 2024, Red Cat Holdings, Inc. entered into a First Amendment to its Securities Purchase Agreement with Lind Global Asset Management X LLC. The amendment provides for an additional $6,000,000 in funding, issuance of a Senior Secured Convertible Promissory Note for $7,200,000, a Common Stock Purchase Warrant for 326,000 shares at $9.20 per share, and a commitment fee of $210,000. The Note includes provisions for repayment and conversion, and the Warrant is exercisable for 5 years. The transaction was made pursuant to Rule 506(b) under Regulation D of the Securities Act.
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Exhibits (3)
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About Red Cat Holdings Inc.
Red Cat Holdings Inc. is a technology-driven company focusing on the development, production, and distribution of innovative drone solutions. Primarily serving the aerospace and defense industries, the company offers advanced drone systems and related technologies that cater to both governmental and commercial needs. Red Cat Holdings is involved in creating cutting-edge solutions that enhance surveillance, reconnaissance, and operational capabilities through its autonomous and remotely piloted aircraft systems. Its product lineup directly impacts sectors such as military contracting, emergency response, and industrial inspection, providing critical tools for modern operational challenges. Based in the United States, Red Cat Holdings stands out in the market with its commitment to integrating leading-edge technologies like AI and machine learning into its drones, thus enhancing data collection and analysis. The company's strategic focus on innovation and its expanding product suite underscore its vital role in shaping the future of unmanned aerial vehicle technologies and expanding their practical applications across diverse fields.
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