WILMINGTON, Mass. – Liberty Defense Holdings Ltd. (TSXV: SCAN) announced Tuesday the pricing of its initial public offering in the United States. The company will offer 3,673,638 common shares at a public offering price of $4.50 per share.
In addition, Liberty Defense has offered pre-funded warrants to certain investors in lieu of common shares. These warrants will be sold at a purchase price of $4.4999 per warrant, reflecting the public offering price less an exercise price of $0.0001 per share. A total of 770,807 pre-funded warrants are being issued.
The offering is anticipated to generate gross proceeds of approximately $20 million before accounting for underwriting discounts, commissions, and other estimated offering expenses. Liberty Defense has also granted the underwriters a 30-day option to purchase up to an additional 666,666 common shares to cover potential over-allotments.
The company, which focuses on security technology, is making its debut on the U.S. public market through this offering. The funds raised are expected to support the company’s ongoing operations and growth initiatives.
