Red Cat Holdings Signs Binding Business Combination Agreement with Steyr Motors

Key Facts

1Red Cat Holdings, Inc. entered into a binding business combination agreement with Steyr Motors AG.

2The agreement includes commitments regarding the Steyr site and its employees.

Red Cat Holdings, Inc. entered into a binding business combination agreement with Steyr Motors AG. Benzinga reported that the agreement includes specific commitments regarding the Steyr site and its current employees, as the deal seeks to integrate Steyr's engine technology into Red Cat's drone and defense portfolio.

RCAT closed at $4.52 on October 20, 2026, after reaching a day high of $4.78 and a low of $4.5. The transaction represents an expansion of Red Cat's technical capabilities within the defense sector by leveraging Steyr Motors' expertise in high-performance engines.