Red Cat Holdings stock has been surging on positive results this past week. The stock was trading at $2.92 on July 13. A couple of hours later the stock has jumped by over 97% in just two hours then it dropped just that day. As of the last trading session, the stock has increased another 40% and it traded at $7.05 at the close. The pre-market shows a 38% fall.
Red Cat, a leading provider of technology solutions for the drone industry, announced today on July 19, the pricing of its public offering of 13,700,000 shares of its common stock, at a public offering price per share of $4.50, they expect the gross income of about $60 million. Red Cat has allowed the underwriters to purchase extra 2 million shares of stock.
The offering is being made pursuant to an effective shelf registration. Red Cat Drone Services, Inc., a provider of drone services, announced today that it has priced its underwritten public offering of 3,500,000 shares of its common stock at a price of $1.00 per share.
Finance and Entertainment Reporter
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