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InMed Pharmaceuticals Announces $5 Million Private Placement Priced At-the-Market Under Nasdaq Rules
Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announced that it has entered into definitive agreements with a single institutional investor for the issuance and sale of 1,952,363 of its common shares (or pre-funded warrants in lieu thereof) and short-term pre
About this update from Inmed Pharmaceuticals Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - June 25, 2025) - InMed Pharmaceuticals Inc. (NASDAQ: INM) ("InMed" or the "Company"), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announced that it has entered into definitive agreements with a single institutional investor for the issuance and sale of 1,952,363 of its common shares (or pre-funded warrants in lieu thereof) and short-term preferred investment options to purchase up to an aggregate of 1,952,363 common shares, at a purchase price of $2.561 per share (or pre-funded warrant in lieu thereof) and associated short-term preferred investment option in a private placement priced at-the-market under Nasdaq rules. The short-term preferred investment option to be issued in the offering will be exercisable immediately upon issuance at an exercise price of $2.436 per share and will expire eighteen months from the effective date of the Resale Registration Statement (as defined below).","length":1084,"tagName":"p"},{"type":"text","content":"H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.","length":86,"tagName":"p"},{"type":"text","content":"The aggregate gross proceeds to the Company from the offering are expected to be approximately $5 million, before deducting placement agent fees and other offering expenses. The offering is expected to close on or about June 25, 2025, subject to the satisfaction of customary closing conditions. The potential additional gross proceeds to the Company from the short-term preferred investment options, if fully-exercised on a cash basis, will be approximately $4.75 million. No assurance can be given that any of such short-term preferred investment options will be exercised. The Company intends to use the net proceeds from the offering to continue pipeline development of its pharmaceutical drug candidates, support commercial sales of rare cannabinoids through its subsidiary BayMedica LLC, and for general working capital purposes.","length":835,"tagName":"p"},{"type":"text","content":"The securities described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and,...