04:21 AM EDT, 04/05/2024 (MT Newswires) -- KWESST Micro Systems ( KWE ) said Thursday it priced an underwritten public offering of about 1.5 million common shares at $0.65 per share for expected gross proceeds of about $1 million.

The company may also issue pre-funded warrants in lieu of common shares.

Net proceeds from the offering will be used primarily for working capital, general corporate purposes, and to fund business objectives, the company said.

Closing of the offering is expected to occur on or about April 9, subject to customary closing conditions.

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