 HUMACAO, Puerto Rico, May 4, 2021 PRNewswire -- Red Cat Holdings, Inc. Nasdaq: RCAT Red Cat or the Company, a leading brand in the drone industry, today announced the closing of its underwritten public offering of 4,000,000 shares of its common stock at a public offering price of 4.00 per share, for gross proceeds of 16,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 600,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount. 