Defsec closes $6.8-million public offering

Executive Summary

• Defsec Technologies Inc. has closed a public offering of 759,879 common shares (or prefinanced warrants) and accompanying warrants, raising approximately CAD$6.8 million in gross proceeds.
• The securities were sold at a combined price of $8.955 per unit, with accompanying warrants carrying an exercise price of $10.52 per share and a five-year term.
• Net proceeds are intended for working capital and general corporate purposes, with H.C. Wainwright & Co. LLC serving as the exclusive placement agent.

Key Details

• Transaction Structure: Public offering of 759,879 common shares or prefinanced warrants in lieu thereof, together with common share purchase warrants to purchase up to 759,879 common shares.
• Pricing: Combined public offering price of $8.955 per share (or prefinanced warrant) and accompanying warrant.
• Warrant Terms:
  • Exercise Price: $10.52 per share.
  • Exercisability: Immediately upon issuance.
  • Expiration: Five years following the date of issuance.
• Gross Proceeds: Approximately $6.8 million (CAD).
• Use of Proceeds: Working capital and general corporate purposes.
• Placement Agent: H.C. Wainwright & Co. LLC acted as the exclusive placement agent.
• Placement Agent Compensation:
  • Cash Fee: $510,354 paid to the placement agent.
  • Warrants Issued: 56,991 placement agent's warrants issued to the agent or its designees.
  • Agent Warrant Terms: Entitles holder to acquire one common share at an exercise price of $11.1938 per share for a period of five years from the commencement of sales.
• Regulatory Filing: Offered pursuant to a registration statement on Form F-1 (file No. 333-288827), declared effective by the SEC on July 23, 2025. A final prospectus has been filed with the SEC.