| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
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 a total of $2.5 million in new contract awards with two NATO allied countries. As part of its expanded global sales strategy, Red Cat will provide the new customers with Teal 2 drone systems, training, and accessories with an anticipated delivery by the end of March.
"Our American-made, rucksack-portable drones are providing warfighters with rapidly deployed reconnaissance and situational awareness to enhance the effectiveness and safety of their operations," said Jeff Thompson, Founder and CEO of Red Cat. "It's an important part of Red Cat's mission to support our NATO allies and we look forward to equipping these new customers and many other countries with our advanced Teal 2 systems."
Red Cat subsidiary Teal Drones manufactures the Company's flagship Teal 2 platform, which is cost-effective, man-portable, and optimized for night-time use. It is designed to support U.S. and allied military operations, public safety organizations, and government agencies in a variety of environments. The platform is both Blue UAS Certified and FAA Remote ID approved.
"Our Teal 2 systems is the right choice not only for the U.S. military but also our NATO allies that are looking for small, portable, cost-effective drones that they can deploy quickly, repair in the field and are upgradable with a fully modular design which means not being locked into stale technology over time," said George Matus, CTO of Red Cat. "Additionally, Teal 2 systems are at the forefront of night vision and thermal imaging, as well as multi-vehicle control and artificial intelligence capabilities."
These contract awards underscore Red Cat's focus on expanding global sales. As part of that strategy, Red Cat will be exhibiting at the FIDAE 2024 conference in Santiago, Chile in April to amplify its international business development and push further into markets and geographies including LATAM, Middle East and Indo-Pacific.
Posted In: RCAT
