Red Cat Holdings Shares Rise 13% After Deal With Royal Australian Navy

Dow Jones10-29

By Stephen Nakrosis

Shares of Red Cat Holdings were trading in the green following news the drone technology company was awarded a contract from the Royal Australian Navy.

Shortly before the closing bell on Monday, the company's shares had risen 13.2% to trade at $3.04.

The company said it received the contract and order for 12 of its FlightWave Edge 130 Blue system, a military-grade tricopter used for long-range mapping, inspection, surveillance and reconnaissance needs.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 28, 2024 15:57 ET (19:57 GMT)

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