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Medexus Announces Full Exercise and Closing of Over-Allotment Option in Bought-Deal Public Offering
Toronto, Ontario and Chicago, Illinois--(Newsfile Corp. - October 17, 2023) - Medexus Pharmaceuti...
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"Medexus Announces Full Exercise and Closing of Over-Allotment Option in Bought-Deal Public OfferingToronto, Ontario and Chicago, Illinois--(Newsfile Corp. - October 17, 2023) - Medexus Pharmaceuticals (TSX: MDP) (OTCQX: MEDXF) is pleased to announce that, in connection with its recently completed bought-deal public offering (Offering) of units (Units), Medexus has issued an additional 508,484 Units at a price of C$2.95 per Unit for an additional C$1.5 million in gross proceeds following exercise in full by Research Capital Corporation (Underwriter) of the Underwriter's over-allotment option pursuant to the underwriting agreement dated September 11, 2023 between Medexus and the Underwriter relating to the Offering.The sale of these additional Units brings the aggregate gross proceeds to Medexus from the Offering to over C$11.5 million. The net proceeds from the Offering, including the net proceeds from the exercise of the Underwriter's over-allotment option, and after deducting underwriting discounts and commissions and offering expenses, will be used for working capital and general corporate purposes, which may include funding Medexus's ongoing business development activities and initiatives.Each Unit consists of one common share of Medexus and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of Medexus at an exercise price of C$3.65 at any time up to April 6, 2026, being 30 months following the initial closing of the Offering on October 6, 2023.About MedexusMedexus is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. Medexus's current focus is on the therapeutic areas of oncology, hematology, rheumatology, auto-immune diseases, allergy, and dermatology. For more information about Medexus and its product portfolio, please see the company's corporate website at www.medexus.com and its filings on SEDAR+ at www.sedarplus.com.ContactsKen d'Entremont | CEO, Medexus PharmaceuticalsTel: 905-676-0003 | Email: [email protected] Konrad | CFO, Medexus PharmaceuticalsTel: 312-548-3139 | Email: [email protected] looking statementsCertain statements made in this news release contain forward-looking information within the meaning of applic...