Core Points - KWESST Micro Systems Inc. has closed the first tranche of a private placement, raising approximately CAD2.5 million) [1] - The first tranche included the issuance of 903,700 common shares and 2,884,179 pre-funded warrants at a price of CAD0.66) per share or warrant [2] - Each common share or pre-funded warrant was bundled with a common share purchase warrant, exercisable at CAD0.817) for 60 months [2] - The company paid a cash fee of CAD142,070 (approximately US$100,000) [4] - The net proceeds from the offering will be used for general working capital purposes [4] - The securities offered have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or exemption [6] Company Overview - KWESST develops and commercializes next-generation tactical systems for military and security forces, including digitization of tactical forces and countermeasures against various threats [8] - The company is headquartered in Ottawa, Canada, with offices in London, UK, and Abu Dhabi, UAE [8]
KWESST Micro Systems Inc. Announces Upsizing of Private Placement and Closing of First Tranche