04:29 AM EDT, 04/10/2024 (MT Newswires) -- Kwesst Micro Systems ( KWE ) said Tuesday it has closed a public offering of 735,000 common shares and 803,500 pre-funded warrants at a price of $0.65 per share and $0.649 per warrant.

In addition, the company issued to the underwriter as compensation for its services 76,925 common share purchase warrants with an exercise price of $0.8125 per share.

The gross proceeds from the offering were approximately $1 million. The Canadian data-focused defense contractor intends to use net proceeds for working capital requirements and general corporate purposes.