Purple Cat Holdings, Inc. (Nasdaq: RCAT) (“Purple Cat” or the “Firm”), a number one model within the drone trade, as we speak introduced the pricing of its underwritten public providing of four,000,000 shares of its frequent inventory at a public providing value of $four.00 per share, for gross proceeds of $16,000,000, earlier than deducting underwriting reductions and providing bills. As well as, the Firm has granted the underwriters a 45-day choice to buy as much as a further 600,000 shares of frequent inventory to cowl over-allotments on the preliminary public providing value, much less the underwriting low cost. The entire shares of frequent inventory are being provided by the Firm. The providing is predicted to shut on Might four, 2021, topic to satisfaction of customary closing situations.
The Firm has obtained approval to checklist its frequent inventory on the Nasdaq Capital Market below the image “RCAT” and is predicted to start buying and selling on April 30, 2021.
The Firm intends to make use of the proceeds to offer funding for service, gross sales, and advertising and marketing efforts for its Purple Cat Drone Providers, strategic acquisitions and associated bills, and common working capital.
ThinkEquity, a division of Fordham Monetary Administration, Inc., is appearing as sole book-running supervisor for the providing.
The Securities and Alternate Fee (“SEC”) declared efficient a registration assertion on Kind S-1 relating to those securities on April 29, 2021. A last prospectus referring to this providing shall be filed with the Securities and Alternate Fee. The providing is being made solely by way of a prospectus. Copies of the ultimate prospectus referring to the providing could also be obtained, when obtainable, by contacting ThinkEquity, 17 State Road, 22nd Flooring, New York, NY 10004, phone (877) 436-3673, e-mail: [email protected] Traders may get hold of these paperwork for gratis by visiting the SEC’s web site at https://www.sec.gov.
This press launch shall not represent a suggestion to promote or a solicitation of a suggestion to purchase, nor shall there be any sale of those securities in any state or jurisdiction through which such a suggestion, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such state or jurisdiction.
About Purple Cat Holdings, Inc.
Purple Cat supplies merchandise, providers and options to the drone trade by its three wholly owned subsidiaries. Fats Shark Holdings is the main supplier of First Individual View (FPV) video goggles to the drone trade. Rotor Riot, LLC is a pacesetter within the sale of FPV drones and gear, primarily to the buyer market by its digital storefront positioned at www.rotorriot.com. Rotor Riot enjoys excessive visibility in social media by its Fb web page and its sponsorship of knowledgeable drone racing group that has received quite a few championships. Purple Cat Propware is growing a Software program-as-a-Answer (“SaaS”) platform to offer drone flight knowledge analytics and storage, in addition to diagnostic services and products. Be taught extra at https://www.redcatholdings.com/.
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