DEFSEC Technologies raises CAD$2.1 million in registered direct offering

DEFSEC Technologies Inc. (TSXV: DFSC) (NASDAQ: DFSC) announced it has entered into agreements for a registered direct offering of 566,040 common shares at CAD$3.64 per share, generating gross proceeds of CAD$2.1 million.

The Ottawa-based defense technology company will also issue warrants to purchase up to 566,040 common shares at an exercise price of CAD$4.27 per share in a concurrent private placement. The warrants will be immediately exercisable upon issuance and expire five years from the date of issuance.

The offering is expected to close on December 18, 2025, subject to customary closing conditions and approval from the TSX Venture Exchange. H.C. Wainwright & Co. is serving as the exclusive placement agent for the transaction.

DEFSEC stated it intends to use the net proceeds for working capital and general corporate purposes, according to the press release.

The common shares are being offered under a shelf registration statement on Form F-3 that was filed with the Securities and Exchange Commission on February 20, 2024, and declared effective on March 4, 2024. The unregistered warrants are being offered through a private placement under Section 4(a)(2) of the Securities Act of 1933.

DEFSEC develops tactical systems for military and security forces, including digitization technology for real-time situational awareness and countermeasures against electronic detection, lasers and drones. The company also produces a non-lethal product line for law enforcement applications.

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