Red Cat proposes EUR 39-per-share cash offer for Steyr Motors
Red Cat
Red Cat (RCAT) announced a proposed cash offer for all Steyr Motors shares at EUR 39.00 each on October 19. The drone and robotics company says the combination would strengthen its Blue Ops uncrewed surface vessel business.[1]
Offer conditions
Steyr anchor shareholder B&C Holding Österreich has committed to tender shares representing approximately 15% of the company.[1]
The proposal requires regulatory approvals in Austria, Italy, Australia and the UK, plus acceptance by holders of at least 50% plus one share. Red Cat expects the acceptance period to end on December 18 at 5 p.m. CET, following publication of the offer document.[1]
Why it matters for RCAT
The proposal would connect Red Cat’s maritime expansion with an engine manufacturer. For shareholders, the next milestones are the formal offer terms, regulatory decisions and tender participation. The announcement does not establish that the acquisition will close.[1]
RCAT insider trading activity
In open-market trades dated in the last 90 days, no insider bought and 3 insiders sold $4.8M, $3.4M of it under preset trading plans, per Form 4 filings.
- Jeffrey M. Thompson (Chairman of the Board, CEO) sold 450,000 shares for $3.4M under a preset plan, last filed Oct 19.
- Nicholas Reyland Liuzza Jr. (Director) sold 120,000 shares for $1.1M, last filed Sep 1.
- Christopher R. Moe (Director) sold 20,000 shares for $210K, last filed Aug 13.
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RCAT 13F fund activity
In 13F filings for the quarter ended Jun 30, 2026, 2 funds we track made a large change in RCAT: 2 opened a position or grew one by half or more, and none cut one by half or more.
- State Street Corp added 4,928,540 shares.
- Citadel Advisors LLC added 3,275,575 shares.
