- KWESST Micro Systems (KWE) has commenced a public offering of units for gross proceeds of approximately US$3 million
- Each unit consists of one common share and one common share purchase warrant
- The offering is expected to be priced in the context of the market, with the final terms of the offering to be determined at the time of pricing
- Net proceeds from the offering will be used to repay certain outstanding loans and for general corporate purposes
- KWESST commercializes breakthrough next-generation tactical systems for military and security forces and personal defence
- KWESST Micro Systems Inc. (KWE) is unchanged on the day, trading at C$0.16 per share at 2 pm ET
KWESST Micro Systems (KWE) has commenced a public offering of units for gross proceeds of approximately US$3 million.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles its holder to purchase one additional common share for a period of five years from closing.
PI Financial Corp. is acting as book-runner and sole underwriter in connection with the Offering.
The offering is expected to be priced in the context of the market, with the final terms of the offering to be determined at the time of pricing. The shares are expected to be listed on the TSX Venture Exchange. The offering will be subject to the terms of an underwriting agreement to be entered into between KWESST and PI Financial Corp. Closing is conditional on the successful completion of the US financing and the listing on Nasdaq Capital Market having been approved.
Net proceeds from the offering will be used to repay certain outstanding loans and for general corporate purposes.
KWESST commercializes breakthrough next-generation tactical systems for military and security forces and personal defence.
KWESST Micro Systems Inc. (KWE) is unchanged on the day, trading at C$0.16 per share at 2 pm ET.