Red Cat Announces Proposed Voluntary Public Purchase Offer for Steyr Motors
Key Highlights
- ➤Red Cat offers EUR 39.00 cash per Steyr Motors share.
- ➤Offer price premiums: 28.9% to October 16 close, 27.3% to 30-day VWAP.
- ➤B&C Holding supports offer and irrevocably tenders approximately 15% of Steyr Motors.
- ➤Transaction requires 50% plus one share acceptance and regulatory approvals in four countries.
- ➤Acceptance period is expected to end December 18, 2026, at 5:00 p.m. CET.
Expert Statements
Jeff Thompson, Chief Executive Officer of Red Cat
“Steyr Motors has built a strong business in Austria with specialized engineering talent, trusted customer relationships and proven marine engine technology”
Jeff Thompson, Chief Executive Officer of Red Cat
“This proposed transaction is about investing in that foundation and helping Steyr Motors grow. We see Austria as central to the future of the business, and our goal is to provide additional resources, customer access and long-term demand that can support Steyr Motors’ employees, operations and continued expansion.”
Julian Cassutti, CEO of Steyr Motors AG
“Four years into Steyr Motors' transformation, I am very excited to lead its next chapter with Red Cat as strategic partner on our side. Our engineering and Red Cat's reach into international markets are the basis for joint growth, and Red Cat stands firmly behind our site and our people.”
Julian Cassutti, CEO of Steyr Motors AG
“For our shareholders, the all-cash offer is a chance to realize their investment in cash today. I stand behind this step, and I intend to tender my own shares alongside them.”
Dr. Rolf Wirtz, Chairman of the Supervisory Board of Steyr Motors AG
“The potential transaction highlights Steyr Motors’ strategic appeal and presents an opportunity to further accelerate international expansion, tap into new markets, and sustainably strengthen access to key resources”
Dr. Rolf Wirtz, Chairman of the Supervisory Board of Steyr Motors AG
“The Supervisory Board sees significant strategic potential in the proposed combination. Subject to review of the legal and economic terms and conditions such as published in the offer document, we view the potential transaction favorably.”
SALT LAKE CITY, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security, today announced a proposed voluntary public purchase offer by Red Cat to acquire all outstanding shares of Steyr Motors AG (“Steyr Motors”), one of the world’s leading companies in the field of customized engines for mission-critical defense and civil applications, for EUR 39.00 per share in cash.
The proposed transaction is supported by the Steyr Motors’ anchor shareholder B&C Group and represents a strategic investment in Steyr Motors and Austrian production capabilities. Red Cat believes the combination would support Steyr Motors’ long-term growth while strengthening Red Cat’s Blue Ops uncrewed surface vessel (“USV”) strategy by pairing Steyr Motors’ advanced marine engine technology, manufacturing expertise and European operating base with Red Cat’s defense customer relationships and growing autonomous maritime portfolio.
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