Liberty Defense Aims for Nasdaq Lift‑Off With Up to $19.4 Million IPO
Liberty Defense Holdings has taken the next step in its U.S. capital markets push, filing for a Nasdaq Capital Market listing and an initial public offering of up to 3,888,889 common shares, targeting gross proceeds of as much as $19.4 million at an estimated price range of $4.00 to $5.00 per share.
Existing listings and new ticker
The British Columbia–based security technology company already trades on the TSX Venture Exchange under the symbol “SCAN,” on the OTCQB as “LDDFF,” and on the Frankfurt Stock Exchange as “4XS,” but a Nasdaq listing under the proposed ticker “DETX” would put it in front of a broader pool of institutional and retail investors and potentially improve liquidity and valuation.
Deal structure and pre‑funded warrants
To accommodate larger buyers, Liberty is structuring part of the deal as pre‑funded warrants for investors whose participation would otherwise push them above 9.99% beneficial ownership post‑offering; each pre‑funded warrant will be priced at the common share offering price minus 0.0001 dollars and carry a de‑minimis 0.0001‑dollar exercise price, allowing those investors to effectively lock in exposure without breaching ownership caps.
Flexibility on securities mix
The pre‑funded warrants will be immediately exercisable and remain so until fully exercised, and for every warrant sold, the number of common shares in the base offering will be reduced on a one‑for‑one basis, giving the company flexibility in how it allocates securities while keeping total capital raised within the targeted range.
Strategic capital for growth
Liberty has notified the TSX Venture Exchange of the underwritten U.S. offering, which, if completed, would mark its formal entry onto a major U.S. exchange and provide fresh growth capital at a time when investors are once again hunting for small‑cap security and defense names with scalable technology platforms.
