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DiaMedica Announces Pricing of Public Offering of Common Shares
MINNEAPOLIS--(BUSINESS WIRE)-- DiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biotechnology company, announced today the pricing of an
About this update from Diamedica Therapeutics Inc.
[{"type":"text","content":" MINNEAPOLIS--(BUSINESS WIRE)--\nDiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage biotechnology company, announced today the pricing of an underwritten registered public offering of 2,125,000 of its common shares at a price to the public of $4.00 per share. All of the common shares are being offered by DiaMedica. The offering is expected to close on or about February 13, 2020, subject to the satisfaction of customary closing conditions.\n\n\nDiaMedica expects the gross proceeds from the offering to be $8.5 million, before deducting the underwriting discount and other estimated offering expenses payable by DiaMedica. Net proceeds, after the underwriting discount, but before estimated expenses of the offering payable by DiaMedica, are expected to be approximately $7.9 million. DiaMedica intends to use the net proceeds from the offering to continue clinical and product development activities and for other working capital and general corporate purposes.\n\n\nCraig-Hallum Capital Group LLC is acting as the sole managing underwriter for the offering.\n\n\nThe securities described above are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-235775) that was declared effective by the U.S. Securities and Exchange Commission, or the SEC, on January 9, 2020. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering were filed with the SEC on February 11, 2020. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and, when available, may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at 612-334-6300 or by email at [email protected].\n\n\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.\n\n\nAbout DiaMedica Therapeutics Inc.\n\n\nDiaMedica Therapeutics Inc. is a clinical stage biopharmaceutical company focused on developing novel treatments for chronic kidney di...