07:59 AM EDT, 09/06/2024 (MT Newswires) -- KWESST Micro Systems ( KWE ) filed a registration statement Friday for the potential sale of up to nearly 5.1 million common shares by certain investors.

The shares are tied to warrants issued in an August private placement and a concurrent registered direct offering, the company said.

The exercise price for the warrants is $0.25 per share, KWESST Micro Systems ( KWE ) said. The selling securityholders may sell their shares in public or private transactions at market-related or negotiated prices, according to the regulatory filing.

KWESST said it will not receive proceeds from the sale, but may gain proceeds if warrants are exercised with cash.