Liberty Defense prices U.S. IPO at $4.50 per share

Liberty Defense Holdings Ltd. (TSXV: SCAN) announced the pricing of its U.S. initial public offering of 3.67 million common shares at $4.50 per share. The company also offered pre-funded warrants to purchase 770,807 common shares at $4.4999 per warrant to certain investors.

The offering is expected to generate gross proceeds of approximately $20 million before underwriting discounts and other expenses. Liberty Defense has granted underwriters a 30-day option to purchase up to 666,666 additional shares to cover over-allotments.

The common shares are expected to begin trading on the Nasdaq Capital Market on April 22, 2026, under the symbol "DETX." The company's shares will cease trading on the OTCQB Venture Market under the symbol LDDFF but will continue trading on the TSX Venture Exchange. The offering is expected to close on April 23, 2026, subject to customary closing conditions.

The Benchmark Company, LLC is serving as the sole bookrunning manager for the offering. Chief Executive Officer William Frain intends to purchase 5,555 common shares for approximately $25,000 as part of the offering.

Liberty Defense develops security solutions for concealed weapons detection in high-traffic areas including airports, stadiums and schools. The company holds an exclusive license from MIT for its HEXWAVE product, which uses active 3D radar imaging technology for detecting metallic and non-metallic weapons.

The SEC declared the company's Form F-1 registration statement effective on March 31, 2026. Securities issued to Canadian purchasers will be subject to a four-month hold period under Canadian securities laws.

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