01:17 PM EDT, 09/19/2025 (MT Newswires) -- Red Cat Holdings ( RCAT ) said Friday that it has closed an underwritten public offering of about 18 million common shares, which includes 2.34 million shares from the underwriters' option, for gross proceeds of $172.5 million.

The company intends to use the proceeds for general corporate purposes and working capital, including funding operations for its new unmanned surface vessel division, it added.

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