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"RCAT (overview): High-risk defense drone co winning US Army SRR contract (690 units LRIP, not exclusive). Executing production pivot w/$66.9M cash but significant talent exodus including CTO. AS9100 certified, partnering w/ESAero. Competing w/Skydio who already delivered. USV diversification may distract from core production challenges. $15M Lind financing has 'death spiral' terms. 12-18 month execution critical."
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