NEWS
Red Cat Secures $4.4 Million of Non-Dilutive Financing
Red Cat Holdings (Nasdaq: RCAT) has secured $4.4 million in non-dilutive financing through its divestiture in Unusual Machines. The funds will support the development of Red Cat's Family of Systems, including Teal Drones, Edge 130, and FANG™ FPV drones. These systems aim to meet the needs of the U.S. Department of Defense and NATO Allies for low-cost, portable, and recoverable drone systems.
CEO Jeff Thompson highlighted the company's three quarters of record revenue and reduced cash burn during the first three quarters of the fiscal year ended April 30, 2024. Red Cat's mission is to redefine small unmanned aerial systems (sUAS) for defense applications by combining ISR capabilities with precision strike payloads. The company plans to expand manufacturing facilities and ramp up production to meet growing global demand.
CEO Jeff Thompson highlighted the company's three quarters of record revenue and reduced cash burn during the first three quarters of the fiscal year ended April 30, 2024. Red Cat's mission is to redefine small unmanned aerial systems (sUAS) for defense applications by combining ISR capabilities with precision strike payloads. The company plans to expand manufacturing facilities and ramp up production to meet growing global demand.
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