WILMINGTON, Mass., April 24, 2026 (GLOBE NEWSWIRE) -- Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (NASDAQ:DETX) (TSXV: SCAN) today announced the closing of its initial public offering in the United States of 3,673,638 common shares at a public offering price of $4.50 per share and to certain investors, in lieu of common shares, pre-funded warrants to purchase 770,807 common shares at a purchase price of $4.4999 per pre-funded warrant, which represented the public offering price per share, minus the $0.0001 per share exercise price of each such pre-funded warrant. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Liberty, were approximately $20 million. In connection with the offering, Liberty granted the underwriters a 30-day option to purchase up to an additional 666,666 common shares solely to cover over-allotments, if any.
The common shares began trading on the Nasdaq Capital Market on April 22, 2026 under the symbol "DETX". In connection with its listing on the Nasdaq Capital Market, the common shares ceased trading on the OTCQB Venture Market under the symbol LDDFF. The common shares will continue to be listed for trading on the TSX Venture Exchange.
The Benchmark Company, LLC acted as sole bookrunning manager for the offering.
Any securities issued pursuant to the offering to Canadian purchasers are subject to a four-month hold period from the date of issuance under applicable Canadian securities laws.
A registration statement on Form F-1 relating to these securities has been filed with the SEC and was declared effective on March 31, 2026. The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the website of the U.S. Securities and Exchange Commission (the "SEC") at www.sec.gov. Alternatively, copies of the final prospectus may be obtained from The Benchmark Company, LLC at 150 East 58th Street, 17th Floor, New York, NY 10155, or by email at prospectus@benchmarkcompany.com
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Liberty Defense
Liberty Defense (NASDAQ:DETX) (TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty's HEXWAVE product, for which the Company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions.
Investor Relations
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