08:51 AM EDT, 07/03/2025 (MT Newswires) -- RedCloud ( RCT ) said Thursday it has signed an agreement for a private placement of shares and accompanying warrants, expecting to raise $13.5 million in gross proceeds.

Under the terms of the private placement, the company will issue 9 million shares, along with warrants to purchase about 18 million shares at $1.50 per share and accompanying warrants. The warrants have an exercise price of $1.50 per share.

The placement included an investment of $7.5 million from RedCloud's ( RCT ) largest current shareholder, the company said.

The private placement is expected to close on or around July 7.