KWESST Micro Systems Entered Into Definitive Agreements For The Purchase And Sale Of 4.715M Common Shares At A Purchase Price Of $0.20 Per Common Share In A Registered Direct Offering And Concurrent Private Placement

Author: Benzinga Newsdesk | August 12, 2024 12:39pm

KWESST Micro Systems Inc. (NASDAQ:KWE) (TSXV:KWE) (TSXV:KWE) ("KWESST" or the "Company"), today announced that it has entered into definitive agreements for the purchase and sale of 4,715,000 common shares at a purchase price of US$0.20 per common share in a registered direct offering. In a concurrent private placement, the Company will issue unregistered warrants to purchase up to 4,715,000 common shares at an exercise price of US$0.25 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 August 13, 2024, subject to the satisfaction of customary closing conditions.

 

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

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