Red Cat completes acquisition of FlightWave Aerospace Systems

With the Edge 130 Blue, Red Cat is opening up new growth opportunities in the defense and military sector

SAN JUAN, Puerto Rico, Sept. 5, 2024 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat”), a drone technology company that integrates robotic hardware and software for military, government and commercial operations, today announced the completion of the acquisition of FlightWave Aerospace Systems Corporation(“FlightWave”), an industry-leading provider of VTOL drones, sensor and software solutions. The acquisition officially adds the Edge 130, FlightWave's Blue UAS-approved military-grade tricopter, to Red Cat's family of cost-effective, portable unmanned reconnaissance and precision lethal strike systems.

“Today marks a critical milestone for Red Cat and our goal of equipping soldiers with the diverse range of portable backpack drones required to operate effectively on today's ever-evolving battlefield,” said Jeff Thompson, CEO of Red Cat. “The acquisition of FlightWave expands our drone product offering and opens up an entirely new revenue stream. The FlightWave Edge 130 Blue completes our family of systems and we will begin production later this quarter.”