RSSFirst Responder Technologies, a developer of Wi-Fi-based technologies to detect and deter mass shooting and terror attacks involving concealed weapons, completed its initial public offering of nearly 14 million units issued at 35 cents per unit. The offering generated aggregate gross proceeds of $4.9 million.
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The common shares were listed on the Canadian Securities Exchange under the trading symbol WPN Jan. 13 and are expected to commence trading Jan. 16.
Each unit is comprised of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable into one common share at a price of 50 cents per common share for a period of two years.
First Responder Technologies is developing a Wi-Fi-based technology, based in part on academic research licensed from Rutgers University that can be used to detect concealed weapons. The technology may be used by a wide range of facilities, including schools, places of worship, shopping centers and theatres, to secure their premises and reduce their cost of security from the interior of a facility to the perimeter.
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