07:20 AM EDT, 07/10/2025 (MT Newswires) -- Volatus Aerospace ( TAKOF ) overnight Wednesday said it filed an offering document in connection with a non-brokered private placement for gross proceeds of up to $10 million.

The LIFE financing includes up to around 19.2 million units of the company at a price of $0.52 each.

Each unit will be made up of one common voting share and one-half of one common share purchase warrant. Each warrant will allow the holder to buy one common share at $0.76 apiece for 36 months from the date of issuance.

The company plans to use the net proceeds of the LIFE financing for expansion into the defense business segment, increase inventory of drone systems to fulfill increased demand in the United States, Canada, and internationally, and for general working capital and corporate purposes.

The LIFE financing is expected to close on or around July 16 and is subject to customary conditions. It may be closed in multiple tranches.