ORLANDO, Fla., Jan. 19, 2021 /PRNewswire/ -- Red Cat Holdings, Inc. (OTCQB: RCAT) ("Red Cat" or the "Company"), a leading brand in the drone industry, announced the filing of an application to list its common shares on the NASDAQ Capital Market ("NASDAQ"). NASDAQ is the second largest stock market in the world based on the market capitalization of its listed companies. NASDAQ's Capital Market provides a listing platform for growing, emerging technology companies.
The Company will be required to meet financial and liquidity requirements, as well as other requirements related to corporate governance and disclosure, both initially and on a continuing basis. While the Company intends to satisfy the listing criteria, there is no assurance that NASDAQ will approve the Company's application.
"Our trading volume has increased substantially in 2021, and we believe that a listing on NASDAQ will further improve the liquidity of our stock" stated Jeffrey Thompson, Chief Executive Officer. "Many of the leading technology companies in the world are listed on NASDAQ and we are excited at the prospect of joining them."
About Red Cat Red Cat provides products, services and solutions to the drone industry through its three wholly owned subsidiaries. Fat Shark Holdings is the leading provider of First Person View (FPV) video goggles to the drone industry. Rotor Riot, LLC is a leader in the sale of FPV drones and equipment, primarily to the consumer marketplace through its digital storefront located at www.rotorriot.com. Rotor Riot enjoys high visibility in social media through its Facebook page and its sponsorship of a professional drone racing team which has won numerous championships. Red Cat Propware is developing a Software-as-a-Solution ("SaaS") platform to provide drone flight data analytics and storage, as well as diagnostic products and services.
Safe Harbor The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. The parties do not undertake any obligation to update forward-looking statements contained in this press release.