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Cardiol Therapeutics Announces Bought Deal Financing for Gross Proceeds of $13.5 Million
Toronto, Ontario--(Newsfile Corp. - January 16, 2026) - Cardiol Therapeutics Inc. (NASDAQ: CRDL)...
About this update from Cardiol Therapeutics Inc. Class A
[{"type":"text","content":"Cardiol Therapeutics Announces Bought Deal Financing for Gross Proceeds of $13.5 MillionToronto, Ontario--(Newsfile Corp. - January 16, 2026) - Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (\"Cardiol\" or the \"Company\"), a late-stage life sciences company focused on advancing the development of anti-inflammatory and anti-fibrotic therapies for heart disease, today announced that it has entered into an agreement with a sole underwriter and sole bookrunner pursuant to which the underwriter (the \"Underwriter\") has agreed to purchase for resale 10,384,616 units of the Company (the \"Units\") at a price of $1.30 per Unit (the \"Offering Price\") on a \"bought deal\" basis in a private placement offering (\"Offering\") for gross proceeds of $13.5 million. The Company has also granted the Underwriter the option to purchase up to an additional 10% of the number of Units sold in the Offering, being up to 1,038,462 Units, at the Offering Price to raise additional gross proceeds of up to $1,350,000, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering to cover over-allotments, if any. Each Unit will consist of one Class A common share of the Company (\"Common Share\") and one-half of one Common Share purchase warrant (\"Warrant\"). Each Warrant shall entitle the holder thereof to purchase one Common Share (\"Warrant Share\") at an exercise price of $1.75 per Warrant Share at any time for a period of 24 months from the date of issuance.The Company intends to use the net proceeds of the financing to advance its research and clinical development programs and for general and administrative expenses, working capital and other expenses. The intended use of the net proceeds of the Offering is further detailed in the Offering Document (as defined below).The Offering is scheduled to close on or about January 23, 2026, or such other date as the Company and the Underwriter may agree upon, and is subject to the receipt of all necessary approvals; including, the approval of the TSX and the negotiation of an underwriting agreement between the Company and the Underwriter. Notwithstanding the foregoing, the closing of any Units issued pursuant to the Listed Issuer Financing Exemption (as defined below) must occur no later than the 45th day following the date hereof. Upon closing of the Offering, the C...