Red Cat (RCAT) said Thursday its Teal Drones unit has received a $2.49 million contract from the US Air Force for Black Widow small unmanned aircraft systems, as well as training and support.
Delivery is expected by Aug. 24, the company said.
The equipment will be used for an evaluation of Black Widow as a potential successor to the Air Force Security Forces' Teal 2 fleet, the company added.
Red Cat shares were up over 6% in Thursday morning trading.
Price: 7.21, Change: +0.44, Percent Change: +6.50
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