On October 6, 2023, Medexus Pharmaceuticals Inc. (the “Company”) closed an approximate C$10 million bought deal public offering (the “Offering”) of units of the Company (the “Units”). A total of 3,389,900 Units were sold at a price of C$2.95 per Unit. Each Unit consists of one common share in the capital of the Company and one half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of C$3.65 at any time up to 30 months following the closing of the Offering.
Research Capital Corporation acted as sole bookrunner and sole underwriter (the “Underwriter”) in connection with the Offering. The Underwriter also holds an over-allotment option to acquire at any time until 30 days following the closing of the Offering, up to the number of additional Units, and/or the components of the Units, equal to 15% of the aggregate number of Units sold in the Offering.
Fasken advised the Underwriter with a team led by John Sabetti, that included Josh Hersh and David Pivrnec (Capital Markets and M&A); Mitchell Thaw and Katerina Ignatova (Tax); Timothy Squire and Mark Vanderveken (Life Sciences); and Jonathan Duforest and Manpreet Kaur Deol (Articling Students).
Jurisdiction
- Ontario
