Benzinga | May 5, 2021 06:17AM EDT

Red Cat Holdings Signs Letter Of Intent To Acquire LuGus Studios; Terms Not Disclosed

Red Cat Holdings, Inc. (NASDAQ:RCAT) ("Red Cat" or the "Company"), a hardware enabled, software provider to the drone industry, announced the signing of a letter of intent to acquire LuGus Studios, the developer of Liftoff, a flight simulation platform for drone pilot training. Liftoff enables student pilots to test and learn how to fly drones in a simulated environment without the cost and risk of flying a real drone.