KWESST Micro Systems (KWE) Prices 1.43M Share Offering at $0.65/sh

KWESST Micro Systems Inc. (NASDAQ: KWE) (NASDAQ: KWESW) today announced the pricing of its underwritten public offering of 1,538,500 common shares (or pre-funded warrants ("Pre-funded Warrants") in lieu thereof) at a public offering price of $0.65 per share, for gross proceeds of approximately $1,000,000, before deducting underwriting discounts, commissions and offering expenses. All of the common shares and Pre-funded Warrants are being offered by the Company. The offering is expected to close on or about April 9, 2024, subject to satisfaction of customary closing conditions.

ThinkEquity is acting as sole book-running manager for the offering.

The Company intends to use the net proceeds from the offering primarily for working capital requirements, general corporate purposes and the advancement of its business objectives.

The securities will be offered and sold pursuant to a prospectus supplement to the Company's shelf registration statement on Form F-3 (File No. 333-277196), including a base prospectus, filed with the United States Securities and Exchange Commission (the "SEC") on February 20, 2024 and declared effective on March 4, 2024. The offering will be made only by means of a written prospectus. A prospectus supplement and accompanying prospectus describing the terms of the offering will be filed with the SEC on its website at www.sec.gov/edgar. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained, when available, from the offices of ThinkEquity, 17 State Street, 41^st Floor, New York, New York 10004.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering remains subject to the final approval of the TSX Venture Exchange.

You May Also Be Interested In

• Alphabet taps bond market with sweeping 10-part offering to fuel AI ambitions
• YXT.com prices $1.05 million direct offering at $7 per ADS
• Ticketplus prices IPO at $8 per share on NYSE American