MEDXF - Medexus Pharmaceuticals Announces C$10 Million Bought-Deal Public Offering of Units | Benzinga
TORONTO and CHICAGO, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Medexus Pharmaceuticals Inc. ("Medexus" or the "Company") (TSX:MDP) (OTCQX:MEDXF), is pleased to announce that it has entered into an agreement with Research Capital Corporation, as sole bookrunner and sole underwriter (the "Underwriter"), pursuant to which the Underwriter has agreed to purchase, on a bought-deal basis, 3,389,900 units of the Company (the "Units") at a price of C$2.95 per Unit for gross proceeds to the Company of C$10,000,205 (the "Offering").
Each Unit will consist of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$3.65 at any time up to 30 months following the Closing Date (as defined below).
The net proceeds of the Offering will be used for working capital and general corporate purposes.
The Company has granted the Underwriter an option (the "Over-Allotment Option"), exercisable in part or in whole at the Underwriter's discretion, at any time until thirty (30) days following the Closing Date, to purchase up to the number of additional Units, and/or the components thereof, equal to 15% of the aggregate number of Units sold in the Offering to cover over-allotments, if any, and for market stabilization purposes.
The Offering will be completed: (i) by way of a short form prospectus to be filed in all provinces of Canada other than ...