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Rakovina Therapeutics Announces Strategic Private Placement, Convertible Debt Financing, and Share Consolidation to Accelerate US-Focused Growth and AI-Powered Oncology Innovation
VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: ...
About this update from Rakovina Therapeutics Inc
[{"type":"text","content":"Rakovina Therapeutics Announces Strategic Private Placement, Convertible Debt Financing, and Share Consolidation to Accelerate US-Focused Growth and AI-Powered Oncology Innovation$3 Million Lead Order from Strategic Investors Supports Bold Transformation\n\n\n\n VANCOUVER, British Columbia, May 15, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE: 7JO) (“\n \n Rakovina\n \n ” or the “\n \n Company\n \n ”), a biopharmaceutical company advancing innovative cancer therapies through artificial intelligence (AI)-powered drug discovery, today announces a strategic financing of approximately $4 million (the “\n \n Offering\n \n ”) consisting of concurrent private placements of (i) convertible debenture units (“\n \n Debenture Units\n \n ”) for aggregate gross proceeds of approximately $1.1 million, and (ii) equity units (“\n \n Units\n \n ” and, together with the Debenture Units, the “\n \n Offered Units\n \n ”) for aggregate gross proceeds of approximately $2.9 million. The Offering is anchored by a $3 million indication of interest from strategic investors for $1.1 million of Debenture Units and $1.9 million of Units.\n \n\n The Company also announces that it will seek TSX Venture Exchange (the “\n \n TSXV\n \n ”) approval to implement a 10-for-1 share consolidation (the “\n \n Consolidation\n \n ”) to enhance its capital structure and position Rakovina for accelerated growth in U.S. capital markets, to be completed following closing of the Offering.\n \n\n\n Offering\n \n\n\n Pursuant to the Offering, Rakovina will issue approximately 58 million Units at an offering price of $0.05 per Unit, with each Unit consisting of one Pre-Consolidation Share (as defined herein) and one share purchase warrant (a “\n \n Warrant\n \n ”). Each Warrant will entitle the holder to purchase one additional Pre-Consolidation Share at a price of $0.10 per Pre-Consolidation Share (or $1.00 per Post-Consolidation Share, following completion of the Consolidation), exercisable for a period of 24 months from issuance, subject to customary adjustments, including adjustment upon completion of the proposed Consolidation. If the closing price for the Company’s common shares on the TSXV is $0.25 or greater per Pre...