Public Offering

DEFSEC Technologies Inc. (DFSC) announced the pricing of a CAD$6.8 million public offering consisting of units with common shares (or pre-funded warrants) and warrants. Each unit, priced at CAD$8.955, includes one share/warrant, with warrants exercisable at CAD$10.52 within five years. H.C. Wainwright & Co. is the placement agent. Closing is expected around July 25, 2025. Net proceeds will be used for working capital and general corporate purposes. The offering, while injecting capital, introduces potential dilution for existing shareholders.

Karman Space & Defense (KRMN) announced the pricing of a public offering of 21 million shares at $49 per share, offered by existing stockholders. Underwriters, led by Citigroup and Evercore ISI, have a 30-day option to purchase an additional 3.15 million shares. Karman will not receive any proceeds from the offering, which is expected to close on July 25th, 2025. The SEC approved the registration statement on July 23, 2025. Karman provides critical systems for the space and defense industries.

Tharimmune (THAR) announced a $1.74 million registered direct offering consisting of common stock and warrants. Units are priced at $1.786, including one share or pre-funded warrant and a common warrant. President Street Global is the placement agent. Proceeds will fund working capital and general corporate purposes. The offering is expected to close around July 25, 2025. This funding aims to support Tharimmune’s work in immunology and inflammation therapies, including their clinical asset, TH104.

Civista Bancshares (NASDAQ: CIVB) priced an offering of 3.29 million common shares at $21.25 each, aiming to raise ~$70 million. With an underwriters’ option, proceeds could reach $80.5 million. The capital, expected to close July 14, will fund organic growth and potential acquisitions in Midwest markets. Piper Sandler leads the transaction under Civista’s existing SEC shelf registration.

VERSES AI Inc. (OTCQB: VRSSD) priced a public offering of 1,007,764 units at US$6.946 each, aiming for gross proceeds of approximately $7 million. Each unit includes one Class A subordinate voting share and one-half warrant. Full warrants are exercisable at US$8.409 per share for 36 months. Proceeds will support the company’s balance sheet, research & development initiatives, and operational needs. The offering is led by agents A.G.P. Canada Investments ULC and U.S. affiliate A.G.P./Alliance Global Partners.

Ascent Solar Technologies is offering 1,000,000 shares of common stock or pre-funded warrants, alongside warrants for another 1,000,000 shares, priced at $2.00 per share. The offering, led by H.C. Wainwright & Co., aims to raise $2 million, with an anticipated close by June 30, 2025. Proceeds will fund working capital, product development, and general expenses. The company’s focus is on high-performance flexible solar panels for various applications.

Achieve Life Sciences priced a public offering of common stock and warrants at $3.00 per share to fund its cytisinicline program, targeting nicotine dependence. The offering, expected to close around June 30, 2025, aims to raise approximately $45 million, which will be used to advance cytisinicline through the FDA approval process. Cytisinicline, with Breakthrough Therapy designation, is designed to interact with nicotine receptors, potentially aiding smoking cessation.

Julong Holding Limited (JLHL) priced its IPO at $4.00 per share, raising approximately $5.0 million through the offering of 1,250,000 Class A ordinary shares. JLHL, trading on Nasdaq as “JLHL” from June 26, 2025, provides intelligent integrated solutions for various properties in China. US Tiger Securities, Inc. acted as the sole book-runner. The offering is expected to close on June 27, 2025.

Kratos Defense & Security Solutions announced a public offering of 12,987,013 shares at $38.50, raising approximately $483.75 million. Closing on June 27, 2025, the proceeds will fund program scaling, new awards, acquisitions, and debt reduction, bolstering Kratos’ position in defense and national security. The offering is managed by Baird, RBC Capital Markets, Truist Securities, and Raymond James, supporting Kratos’ advanced technology development.

Torrid Holdings Inc. announced a public offering of 10,000,000 shares of common stock at $3.50, led by selling stockholders, with a closing expected around June 26, 2025. Underwriters have an option to purchase more shares. Concurrently, Torrid will repurchase $20.0 million of its stock from Sycamore Partners. Torrid will not receive proceeds from the offering. BofA Securities, Jefferies, and William Blair are managing the offering. Detailed information can be found in SEC filings.