DeFi Technologies announces pricing of $100M registered direct offering

DeFi Technologies (DEFT) is pleased to announce that it has entered into a securities purchase agreement with several well-known institutional investors, led by Galaxy Digital (GLXY). Pursuant to the agreement, such investors have agreed to purchase an aggregate of 45,662,101 shares of common stock and warrants to purchase up to an additional 34,246,577 shares of common stock, at a combined purchase price of $2.19 per share and three-quarters of one warrant. The warrants will have an exercise price of US$2.63 per share, representing a 120% premium to the offering price, will be exercisable immediately upon issuance and will expire 3 years from the date of issuance, subject to an acceleration feature based upon share price appreciation and other factors. The offering is expected to close on September 26, subject to customary closing conditions, including receipt of all necessary regulatory approvals, including the approval of the Cboe Canada Exchange and notification to the Nasdaq Capital Market Exchange. Joseph Gunnar & Co. is serving as the exclusive placement agent in connection with the offering.