Liberty Defense closes $20 million US IPO on NASDAQ

Liberty Defense Holdings Ltd. (NASDAQ: DETX) (TSXV: SCAN) completed its initial public offering in the United States, raising approximately $20 million in gross proceeds before fees and expenses, according to a company statement.

The security technology company sold 3,673,638 common shares at $4.50 per share and issued pre-funded warrants to purchase 770,807 common shares at $4.4999 per warrant to certain investors. The company granted underwriters a 30-day option to purchase up to 666,666 additional shares to cover potential over-allotments.

The Benchmark Company, LLC served as sole bookrunning manager for the offering. Liberty Defense's shares began trading on the NASDAQ Capital Market under the ticker "DETX" on April 22, 2026, after ceasing trading on the OTCQB Venture Market where they traded under "LDDFF."

The company's shares continue to trade on the TSX Venture Exchange under the symbol "SCAN." Securities sold to Canadian purchasers are subject to a four-month hold period under Canadian securities laws.

The SEC declared Liberty Defense's Form F-1 registration statement effective on March 31, 2026. The offering was conducted through a prospectus, with copies available through the SEC's EDGAR database.

Liberty Defense develops security solutions for concealed weapons detection in high-traffic areas including airports, stadiums and schools. The company holds an exclusive license for its HEXWAVE product from the Massachusetts Institute of Technology and has licensed millimeter wave-based body scanner technologies.

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