Medicus Pharma Ltd. announced entering into a warrant inducement agreement for the immediate exercise of outstanding Series A and Series B Warrants.
The investor agreed to exercise all outstanding Warrants to purchase 2,680,000 shares at an amended price of $1.92, generating approximately $5.1 million in gross proceeds.
The Company also agreed to issue unregistered Series C and Series D Warrants to purchase 4,020,000 common shares with an exercise price of $2.00 per share.
Warrant Inducement Agreement
Investor agreed to exercise outstanding Warrants at amended price, expected to generate $5.1 million in gross proceeds.
New Warrants Issuance
Company agreed to issue unregistered Series C and Series D Warrants to purchase 4,020,000 common shares with an exercise price of $2.00 per share.
- The entering into the warrant inducement agreement indicates a positive step towards increasing liquidity and potentially funding further development programs.
- The exercise of the Warrants and issuance of new Warrants signify investor confidence in the Company's future prospects.
The warrant inducement agreement and issuance of new Warrants demonstrate a strategic move by Medicus Pharma Ltd. to strengthen its financial position and support ongoing development programs.