On May 5, 2023, Algernon Pharmaceuticals Inc. (“Algernon” or “the Company”), a Canadian clinical stage pharmaceutical development company, completed a rights offering of 4,753,369 units at the subscription price of C$0.25 per unit for total gross proceeds of approximately C$1,188,342.
The proceeds of the rights offering are expected to be used for working capital and general corporate purposes and administrative expenses.
John Sabetti advised Research Capital Corporation, placement agent to Algernon, in connection with this offering.
Jurisdiction
- Ontario
