Red Cat Holdings Proposes Voluntary Public Purchase Offer for Steyr Motors

Red Cat Holdings, Inc. (Nasdaq: RCAT), a U.S.-based provider of drone and robotic solutions, announced a proposed voluntary public purchase offer to acquire all outstanding shares of Steyr Motors AG. Steyr Motors is a leading company in customized engines for mission-critical applications, primarily used in military special vehicles, boats, and as auxiliary power units for main battle tanks and locomotives.