Drone technology co Red Cat falls after $300 mln mlxed shelf filing

Red Cat Holdings

15/09/2025 22:16

** Shares of Red Cat Holdings RCAT.O down 5% post-market to $9.99 after $300 mln mixed shelf filing

** San Juan, Puerto Rico-headquartered drone technology firm may offer common stock, preferred stock, warrants or units, per the filing

** It plans to use net proceeds from any sales for general purposes, including working capital, capex, debt refinancing/repayment, or potential acquisitions

** RCAT shares on Mon fell 4.3% to $10.52, extending YTD loss to ~18%. The stock was trading around $3 a year ago

** With ~99.8 mln shares outstanding, co has about $1 bln market cap

** All 3 firms covering RCAT are bullish and median PT is $15, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))