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Cardiol Therapeutics Announces Closing of Bought Deal Financing and Full Exercise of Over-Allotment Option for Gross Proceeds of $14.85 Million
Toronto, Ontario--(Newsfile Corp. - January 23, 2026) - Cardiol Therapeutics Inc. (NASDAQ: CRDL)...
About this update from Cardiol Therapeutics Inc. Class A
[{"type":"text","content":"Cardiol Therapeutics Announces Closing of Bought Deal Financing and Full Exercise of Over-Allotment Option for Gross Proceeds of $14.85 MillionToronto, Ontario--(Newsfile Corp. - January 23, 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 closed its previously announced private placement of units (the \"Units\") of the Company (the \"Offering\"), including the full exercise of the over-allotment option. Canaccord Genuity Corp. (the \"Underwriter\") acted as sole underwriter and sole bookrunner for the Offering. Pursuant to the Offering, the Company issued an aggregate of 11,423,078 Units at a price of $1.30 per Unit for aggregate gross proceeds of $14.85 million, which includes the full exercise by the Underwriter of the over-allotment option.Each Unit consists of one Class A common share of the Company (each, a \"Common Share\") and one-half of one Common Share purchase warrant (each, a \"Warrant\"). Each whole Warrant entitles the holder thereof to purchase one Common Share (each, a \"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 of the Warrants. In connection with the Offering, the Company paid the Underwriter a cash commission equal to 6% of the aggregate gross proceeds of the Offering.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 Offering was completed by way of a private placement pursuant to National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\") under Part 5A, as amended by CSA Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the \"Listed Issuer Financing Exemption\") to qualified investors in each of the provinces and territories of Canada (other than Quebec). The Underwriter was entitled to offer the Units for sale in certain jurisdictions outside of Canada and the United States, provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite ...