Defsec arranges $2.1-million direct offering

Executive Summary

• Defsec Technologies Inc. has entered into definitive agreements for a registered direct offering of 566,040 common shares at $3.64 per share, raising gross proceeds of approximately CAD$2.1 million.
• The transaction includes a concurrent private placement of unregistered warrants to purchase up to 566,040 common shares at an exercise price of $4.27 per share, exercisable immediately and expiring in five years.
• Net proceeds will be used for working capital and general corporate purposes, with H.C. Wainwright acting as the exclusive placement agent.

Key Details

• Transaction Structure: Registered direct offering of common shares combined with a concurrent private placement of unregistered warrants.
• Share Price: $3.64 per common share (equivalent to $2.65 USD).
• Quantity of Shares: 566,040 common shares issued.
• Warrant Terms:
  • Quantity: Up to 566,040 unregistered warrants.
  • Exercise Price: $4.27 per share.
  • Exercisability: Immediately exercisable upon issuance.
  • Expiration: Five years following the date of issuance.
• Gross Proceeds: $2.1 million (CAD).
• Use of Proceeds: Working capital and general corporate purposes.
• Placement Agent: H.C. Wainwright & Co. LLC (exclusive placement agent).
• Closing Date: Expected on or about December 18, 2025, subject to customary closing conditions.
• Regulatory Basis: Offered pursuant to a shelf registration statement on Form F-3 (File No. 333-277196), filed Feb. 20, 2024, and declared effective March 4, 2024.

Notable Quotes

• No direct quotes from management were included in the provided text.