The share price of leading concealed weapons detection company Liberty Defense Holdings, Ltd. (OTCPK: LDDFF) jumped 57.47 percent on Tuesday to $0.4724. Liberty Defense stock surged more than 12.50 percent in the last week, with over 14.77K shares traded on average. An upsized brokered private placement lifted LDDFF stock.
How did that placement work out?
Security solutions provided by Liberty Defense combine multi-technology security solutions for detecting concealed weapons in high traffic areas and locations requiring increased security, including airports, stadiums, and schools. A technology transfer agreement has also been signed with Massachusetts Institute of Technology (MIT) regarding patents related to active 3D radar imaging for LDDFF’s EXWAVE product. In addition to providing layered, stand-off detection capability of metals and non-metals, LDDFF provides discrete, modular, and scalable protection factors.
May 21, 2021 /CNW/ –
Liberty Defense announced last week that it has increased the size of its previously announced brokered private placement from C$5 million to C$6.2 million based on significant market demand.
- An upsized offering will consist of up to 12,400,000 units of LDDFF for an aggregate gross proceeds of approximately C$6,200,000.
- One Unit will comprise a common share of LDDFF and one-half of a warrant to purchase a common share of the Company.
- For a period of 24 months following the closing date, each Warrant holder will be entitled to acquire, upon payment of C$0.75 to LDDFF, one common share of LDDFF.
How will LDDFF utilize the funds?
As part of the Offering, net proceeds will be used to further develop the latest technology that LDDFF recently licensed from the Pacific Northwest National Laboratory, as well as the HEXWAVE technology developed by LDDFF. Liberty Defense (LDDFF) will require investors to hold the securities issued in the Offering for a period of four months after the closing date.