RDTCF - Rapid Dose Therapeutics raises $3M via private placement

2023-06-05 10:30:07 ET

• Rapid Dose Therapeutics ( OTCPK:RDTCF ) completes a private placement financing for up to $3M of gross proceeds.
• It will consist of up to 3M units at a price of $1.00 per unit.
• Each unit will consist of $1.00 principal amount of secured convertible notes and five common share purchase warrants.
• The financing may close in one or more tranches.
• All notes will have a maturity date of November 30, 2025 and will bear interest from their date of issue at 12.0% per annum.
• The first $1M proceeds raised shall be used for general working capital purposes, with proceeds raised thereafter being used to first repay ~$750K principal of secured debt as well as any accrued and unpaid interest thereon.

For further details see: