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Red Cat Holdings, Inc. (RCAT) is a prominent military technology company specializing in secure blockchain-based distributed storage, analytics, and SaaS for the drone industry. The company offers innovative solutions for regulators to monitor flight data, insurance companies to insure drones, and pilots to comply with regulations. Red Cat collaborates with Ocean Power Technologies to enhance ocean surveillance and maritime domain awareness through drone and swarming capabilities across various domains. Teal Drones, a Red Cat subsidiary, develops the Golden Eagle drone with high-resolution imaging for night-time operations, while Skypersonic provides unmanned aircraft for interior spaces and hazardous environments. Red Cat's strategic partnerships include companies like Primordial Labs, Tomahawk Robotics, and Athena AI, enabling cutting-edge autonomy solutions for defense and security missions.
On June 4, 2021, Red Cat Holdings announced the appointment of Dr. Allan Evans as Chief Operating Officer, overseeing operations across its subsidiaries, including Fat Shark. Dr. Evans, formerly CEO of Fat Shark, brings over a decade of experience in technology and engineering. His focus will be on strategic planning and the organic growth of Red Cat's consumer brands while enhancing enterprise services related to drone management. CEO Jeff Thompson expressed enthusiasm for Dr. Evans' leadership in driving the company’s future in UAV technology.
Red Cat Holdings, Inc. (Nasdaq: RCAT) will celebrate its recent Nasdaq listing by ringing the Closing Bell on May 26, 2021. CEO Jeff Thompson expresses pride in the achievement and anticipates significant growth in the drone industry over the next decade. Red Cat, a software and hardware provider for drones, operates through four subsidiaries, including Fat Shark Holdings and Rotor Riot, focusing on FPV technology and drone inspection services. The event will be broadcast live at 3:45 PM EST.
Red Cat Holdings, Inc. (Nasdaq: RCAT) has successfully completed the acquisition of Skypersonic, expanding its capabilities in the $21 billion inspection and survey market. Skypersonic's innovative Skyloc software allows drone inspections in GPS-restricted areas, enhancing operational efficiency. This acquisition is expected to significantly boost Red Cat's revenue growth in the upcoming fiscal year, which commenced on May 1, 2021. Notable customers of Skypersonic include industry giants like General Motors and Aramco.
Red Cat Holdings (NASDAQ: RCAT) has signed a letter of intent to acquire LuGus Studios, creator of the flight simulation platform Liftoff, enhancing drone pilot training capabilities. Liftoff allows users to learn drone operations without real-world risks, addressing the projected pilot shortage in the drone industry. LuGus Studios plans to launch Liftoff Academy, expanding training into various industrial environments. Completion of the acquisition is subject to due diligence and other closing conditions, making it non-binding at this stage.
Red Cat Holdings, Inc. (Nasdaq: RCAT) has successfully closed its underwritten public offering of 4,000,000 shares at $4.00 per share, generating gross proceeds of $16,000,000. The underwriters also received a 45-day option for an additional 600,000 shares. The funds will focus on enhancing service, sales, and marketing for Red Cat Drone Services, strategic acquisitions, and general working capital. The offering was conducted via a registration statement effective April 29, 2021, with the final prospectus filed on April 30, 2021.
Red Cat Holdings, Inc. (Nasdaq: RCAT) has finalized its underwritten public offering of 4,000,000 shares of common stock at $4.00 per share, generating gross proceeds of $16,000,000. The offering, set to close on May 4, 2021, includes an option for underwriters to purchase an additional 600,000 shares. The proceeds will fund service, sales, and marketing for Red Cat Drone Services, strategic acquisitions, and general working capital. Additionally, the company is set to begin trading on the Nasdaq Capital Market on April 30, 2021.
Red Cat Holdings, Inc. (OTCQB:RCAT) announced the issuance of U.S. Patent No. 10,877,162 for Skypersonic's drone technology, focusing on terrestrial positioning systems. This patent, effective since December 29, 2020, enhances Skypersonic's Skyloc system, allowing drones to transmit inspection data remotely. The technology is pivotal for inspections where GPS is unavailable and is being deployed in critical infrastructure across Europe. This acquisition aligns with Red Cat's strategy to solidify its technological foothold in the drone industry.
Red Cat Holdings (RCAT) reported record revenues exceeding $2 million for its fiscal third quarter, driven by contributions from its subsidiary Fat Shark, acquired in November 2020. The Rotor Riot subsidiary is projected to achieve record annual revenues by the end of April. However, the net loss for nine months ending January 31 totaled approximately $10 million, largely due to non-cash expenses, impacting shareholder outlook. The company anticipates revenue growth with the upcoming acquisition of Skypersonic, expected to close in April.
Red Cat Holdings, Inc. (OTCQB: RCAT) announced that its subsidiary, Fat Shark Holdings, has received a patent for its FPV headset optical architecture. This technology enables the creation of higher performance headsets at lower costs, expected to enhance Red Cat's product offerings in the growing drone industry, forecasted to reach $40 billion by 2025. CEO Jeffrey Thompson noted that the pandemic has driven drone adoption, further validating their technological advancements and market potential.
Red Cat Holdings (OTC: RCAT) announced a definitive agreement to acquire Skypersonic, a provider of advanced drone inspection technologies. This acquisition aims to enhance Red Cat's specialized drone services portfolio, focusing on areas where GPS is unavailable. Skypersonic's patented software and drones, including the Skycopter and Skyloc systems, cater to global clients in automotive and energy sectors. This strategic move is expected to drive growth in existing markets and facilitate entry into new territories, positioning Red Cat in a booming $40 billion drone industry by 2025.
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