DEFSEC Technologies Issues 673,006 Shares at C$3.74 Each
DEFSEC Technologies announced that it has entered into definitive agreements for the purchase and sale of 673,006 common shares at a purchase price of C$3.74 per common share in a registered direct offering. In a concurrent private placement, the company will issue unregistered warrants to purchase up to 673,006 common shares at an exercise price of C$4.39 per share that will be immediately exercisable upon issuance and will expire five years following the date of issuance. The closing of the offering is expected to occur on or about June 26, subject to the satisfaction of customary closing conditions. The gross proceeds to the company from the offering are expected to be approximately C$2.5M before deducting placement agent fees and other offering expenses payable by the company. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
