Mentioned:
Red Cat Holdings wants to dominate the future of defense tech hardware. Which is exactly why they have just raised a new round of financing.
What’s happening:
- Red Cat Holdings (NASDAQ: RCAT) has successfully raised $46.75M USD in a new equity financing round
By the numbers:
- Red Cat Holdings issued 6.44M common shares at $7.25 USD per share
Why it matters:
- Red Cat Holdings has publicly stated that they plan to use the new growth capital to ramp up the production of their Edge 130 drones, Black Widow drones and also to begin producing unmanned surface vessels for the first time ever
Going deeper:
- Red Cat Holdings’ new unmanned surface vessels are being purpose built for larger payloads and increased firepower and are aiming to be deployed in both deep-strike missions and anti-ship warfare
- Drones have also been continuing to make political waves in the United States lately, with President Donald Trump just recently signing a new executive order focused on accelerating drone innovation and production within America
