kwesst micro systems inc shares were down onethird on wednesday morning after the company said it would raise 133 million in a us initial public offering and a public offering of shares in canada at 1022 am et the shares were trading 33 lower at 422 canadian dollars us309 late tuesday the canadian military and public safety technology company said that it will issue 25 million equity units at a price of 413 per us unit and 726392 units in canada at the same price the units in both offerings are made up of one common share and one warrant that allows the holder to purchase one common share of the company at a price of 5 each within five years of closing kwesst also granted its underwriter an option to purchase up to 375000 more common shares and prefunded warrants kwesst said it intends to use the proceeds primarily to advance its para ops nonlethal systems technology in the us as well as repay some of its loans