Red Cat acquires Quaze

On May 19, 2026, Red Cat Holdings, Inc. ("Red Cat") completed its acquisition of Quaze Technologies Inc. ("Quaze"). The consideration consisted primarily of Red Cat common shares, together with purchase price and indemnification holdbacks, and additional equity-based earnout consideration tied to the achievement of specified technical, revenue and gross margin performance milestones following closing. The acquisition enhances Red Cat's autonomous systems platform by adding wireless charging technology designed to support operations across air, land and maritime environments. Following closing, Quaze will continue operating as an independent business unit within Red Cat.

Red Cat, headquartered in Salt Lake City, Utah, is a defence technology company that develops and provides drone, robotic and autonomous systems solutions for defence, national security and government customers.

Quaze, headquartered in Saint-Jean-sur-Richelieu, Quebec, is a technology company that develops wireless power transfer solutions for drones, unmanned systems and autonomous machines.

McCarthy Tétrault LLP advised Red Cat with a team led by Patrick Shea, Luke Carsley, and Suzie Cusson that included Geena Lee, Robyn Finley, Sheema Rezaei, Brianna Bernhardt, Jackson Virgin-Holland (Business Law), Marie-Soleil Landry and Joannie Marcoux (Tax), Dominic Thérien, Sam Steeves and Benjamin Brown (Competition/Antitrust & Foreign Investment), Ziad Shanab (Labour & Employment), Kelleher Lynch (Pensions, Benefits & Executive Compensation), Francis Langlois (Intellectual Property), Nicholas Alevras and Marie Josée Marcoux (Real Property & Planning), Robert A. Glasgow, Martha Harrison and Oksana Migitko (International Trade & Investment), Eugen Miscoi (Privacy), and Cindy Vaillancourt (Environmental Law).