SAN JUAN, Puerto Rico, March 31, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat" or "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, reports its financial results for the 2024 Transition Period (as of December 31, 2024 and the eight months then ended) and provides a corporate update. Recent Operational Highlights: 2024 Transition Period (as of December 31, 2024 and the eight months then ended) Fina ...

SAN JUAN, Puerto Rico, March 26, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (NASDAQ:RCAT) ("Red Cat" or the "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, announces that financial results for the 2024 Stub Period (as of December 31, 2024 and the eight months then ended) will be reported on Monday, March 31, 2025 at the market close. Company management will host an earnings conference call at 4:30p.m. ET on Monday, Ma ...

Company Overview - Red Cat Holdings, Inc. is a drone technology company that integrates robotic hardware and software for military, government, and commercial operations [5] - The company operates through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, and has developed a Family of Systems including the Black Widow™, TRICHON™, and FANG™ [5] Leadership Appointment - Christian Koji Ericson has been appointed as the new Chief Financial Officer (CFO) of Red Cat, effective March 17, 2025 [1] - Ericson has over 20 years of finance and accounting experience, including 11 years at PricewaterhouseCoopers (PwC) and senior roles at Nu Skin Enterprises [2] Strategic Vision - The CEO of Red Cat, Jeff Thompson, emphasized that Ericson's financial leadership and experience in high-growth industries will be crucial for the company's growth and market opportunities [3] - Ericson expressed optimism about the opportunities for Red Cat in the evolving drone industry and aims to leverage his financial strategy experience to enhance the company's performance and shareholder value [3]

Core Insights - Red Cat Holdings, Inc. announced that its Black Widow drone and FlightWave Edge 130 have been selected as winners in the Blue UAS Refresh, which includes 23 platforms and 14 unique components and capabilities [1][2] - The inclusion of these drones will undergo NDAA verification and cybersecurity review, aiming for their addition to the Blue UAS List, reinforcing Red Cat's commitment to NDAA-compliant unmanned systems for defense and government applications [2][5] Company Overview - Red Cat is a drone technology company that integrates robotic hardware and software for military, government, and commercial operations, operating through subsidiaries Teal Drones and FlightWave Aerospace [7] - The Black Widow is designed for short-range reconnaissance missions and has been selected for the U.S. Army's SRR Program of Record contract, enhancing military operators' situational awareness and autonomous capabilities [3][7] - FlightWave's Edge 130 is a high-endurance VTOL drone suitable for medium-range intelligence, surveillance, and reconnaissance operations, featuring a modular payload system [4][7] Strategic Partnerships - Red Cat has partnered with Palantir to integrate Visual Navigation software (VNav) into the Black Widow drones, enhancing their operational capabilities [3] Market Position - The inclusion of Red Cat's drones in the Blue UAS review continues its legacy of having Blue listed solutions, facilitating easier procurement by the U.S. Department of Defense and federal agencies, thus ensuring rapid deployment [5]

Core Insights - Red Cat Holdings, Inc. announced that its Black Widow drone and FlightWave Edge 130 have been selected as winners in the Blue UAS Refresh, which includes 23 platforms and 14 unique components and capabilities [1][2] - The inclusion of these drones will undergo NDAA verification and cybersecurity review, aiming for their addition to the Blue UAS List, reinforcing Red Cat's commitment to NDAA-compliant unmanned systems for defense and government applications [2][5] Company Overview - Red Cat is a drone technology company that integrates robotic hardware and software for military, government, and commercial operations, operating through subsidiaries Teal Drones and FlightWave Aerospace [7] - The Black Widow is designed for short-range reconnaissance missions and has been selected for the U.S. Army's SRR Program of Record contract, enhancing military operators' situational awareness and autonomous capabilities [3][7] - FlightWave's Edge 130 is a high-endurance VTOL drone designed for medium-range intelligence, surveillance, and reconnaissance operations, featuring a modular payload system [4][7] Strategic Partnerships - Red Cat has partnered with Palantir to integrate Visual Navigation software (VNav) into the Black Widow drones, enhancing their operational capabilities [3] Market Position - The inclusion of Red Cat's drones in the Blue UAS review continues the company's legacy of having Blue listed solutions, facilitating easier procurement by the U.S. Department of Defense and federal agencies [5]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Red Cat Holdings, Inc. due to allegations of materially misleading business information issued by the company [1]. Group 1: Legal Action and Investor Rights - Shareholders who purchased Red Cat securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2]. - To join the prospective class action, interested parties can submit a form or contact the law firm directly [3]. Group 2: Company Background and Market Performance - Kerrisdale Capital published a report on January 16, 2025, stating that Red Cat Holdings, a $1 billion drone manufacturer, has seen a market capitalization increase of over $900 million in the past nine months, primarily due to expectations surrounding a US Army contract for short-range reconnaissance drones [4]. - Following the report, Red Cat's stock price dropped by $1.55, or 15%, closing at $8.56 per share on January 17, 2025 [4]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time and being ranked No. 1 for securities class action settlements in 2017 [5]. - The firm has consistently ranked in the top 4 for securities class action settlements since 2013 and has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [5].

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Red Cat Holdings, Inc. due to allegations of materially misleading business information issued by the company [1] Group 1: Legal Action and Compensation - Shareholders who purchased Red Cat securities may be entitled to compensation through a contingency fee arrangement, with no out-of-pocket fees or costs [2] - A class action is being prepared by Rosen Law Firm to seek recovery of investor losses [2][3] Group 2: Company Performance and Market Reaction - Kerrisdale Capital published a report on January 16, 2025, stating that Red Cat Holdings, a $1 billion drone manufacturer, has seen a market capitalization increase of over $900 million in the past nine months, primarily due to expectations surrounding a US Army contract for short-range reconnaissance drones [4] - Following the report, Red Cat's common stock fell by $1.55 per share, or 15%, closing at $8.56 per share on January 17, 2025 [4] Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time and being ranked No. 1 for the number of settlements in 2017 [5] - The firm has consistently been ranked in the top 4 for securities class action settlements since 2013 and has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 [5]

Core Viewpoint - Red Cat Holdings, Inc. has secured initial debt financing of $16.5 million and is applying for an additional $58 million from the Department of Defense Office of Strategic Capital to enhance its drone technology capabilities for military and commercial applications [1][2][3]. Financing Details - The company has entered into an agreement for up to $20 million in debt financing with The Lind Partners, with the initial tranche of $16.5 million already closed [1][3]. - The total potential financing from the Department of Defense could reach $93 million, which is considered a low-dilution option for shareholders [3]. Product Development - The funding will be utilized to scale up production and continue the development of the Arachnid Family of Systems, which includes the Black Widow™, Edge 130, and the new FANG™ First-Person View (FPV) drones [2][3]. - The Family of Systems aims to fulfill the requirements of the U.S. Department of Defense and NATO Allies for affordable, portable, and field-repairable drone systems [2]. Company Overview - Red Cat Holdings, Inc. specializes in drone technology, integrating robotic hardware and software for military, government, and commercial operations [1][3]. - The company operates through two subsidiaries, Teal Drones and FlightWave Aerospace, and has developed various drone systems, including the Black Widow™, which is part of the U.S. Army's Short Range Reconnaissance Program [3]. About The Lind Partners - The Lind Partners is an institutional fund manager that provides growth capital to small- and mid-cap companies, having completed over 150 direct investments totaling more than $1.5 billion since 2011 [4].

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Red Cat Holdings, Inc. due to allegations of materially misleading business information issued by the company [1]. Group 1: Investigation and Legal Action - Shareholders who purchased Red Cat securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2]. - The Rosen Law Firm is preparing a class action to seek recovery of investor losses related to Red Cat Holdings [2]. Group 2: Company Performance and Market Reaction - Kerrisdale Capital published a report on January 16, 2025, stating that Red Cat Holdings, a $1 billion drone manufacturer, has seen a market capitalization increase of over $900 million in the past nine months, primarily due to expectations surrounding a US Army contract for short-range reconnaissance drones [3]. - Following the report, Red Cat's stock price fell by $1.55, or 15%, closing at $8.56 per share on January 17, 2025 [3]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time [4]. - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions for investors [4].

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Red Cat Holdings, Inc. due to allegations of materially misleading business information issued by the company [1]. Group 1: Investigation and Allegations - The investigation is prompted by a report from Kerrisdale Capital, which claims that Red Cat Holdings, a $1 billion drone manufacturer, has seen a significant increase in market capitalization, primarily due to expectations surrounding a US Army contract for short-range reconnaissance drones [3]. - Following the publication of Kerrisdale's report, Red Cat's stock price dropped by $1.55, or 15%, closing at $8.56 per share on January 17, 2025 [3]. Group 2: Class Action Details - Shareholders who purchased Red Cat securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees due to a contingency fee arrangement [2]. - Interested parties can join the class action by submitting a form or contacting the Rosen Law Firm directly [2]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time and being ranked No. 1 for the number of settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4].