Red Cat Holdings (RCAT) said Wednesday it received Federal Aviation Administration approval to operate drones in US airspace without broadcasting remote identification information.
The move allows the company to undertake aeronautical research in controlled conditions, exempt from remote ID broadcasting requirements, it said.
The approval is effective immediately and will be valid until Jan. 31, 2028.
Red Cat shares were down more than 10% in recent trading.
Price: 11.74, Change: -1.32, Percent Change: -10.11
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