A2Z Smart Technologies Corp. Cancels Public Offering, Moves to Direct and Private Placements

A2Z Smart Technologies Corp. (NASDAQ: AZ) has announced the withdrawal of its proposed public offering. The original plan, which included ThinkEquity as the placement agent, has been abandoned. The company now opts for a different route, engaging in a registered direct offering targeting up to $4,500,000 and a separate private placement expected to accumulate up to $2,500,000 in common shares or pre-funded warrants. This strategic pivot is planned with definitive binding agreements anticipated to be disclosed pre-market by April 2, 2024.

The decision not to pursue the public offering and instead focus on alternative funding mechanisms underscores A2Z Smart Technologies Corp.'s agile approach to capital raising. This shift aligns with the company’s endeavors to adapt to dynamic market conditions while pursuing its operational goals. The press statement from A2Z reiterates that neither the original offering nor the new funding strategies constitute an offer or a solicitation of an offer in any jurisdiction where such actions would breach legal requirements.