Red Cat dips 10% on raising $225M equity at $9.40 per share
Drone maker Red Cat (RCAT) has announced a public offering of 23.94 million shares at $9.40 each, raising approximately $225 million. The offering is set to close around May 14, 2026, with proceeds aimed at corporate purposes and strategic growth initiatives. Following the announcement, Red Cat's shares dropped about 10% in after-hours trading.
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