Business
Rakovina Therapeutics Announces the Closing of Oversubscribed Private Placement of $4.9 Million
VANCOUVER, British Columbia, June 06, 2025 (GLOBE NEWSWIRE) --  Rakovina Therapeutics Inc. (...
About this update from Rakovina Therapeutics Inc
[{"type":"text","content":"Rakovina Therapeutics Announces the Closing of Oversubscribed Private Placement of $4.9 Million\n\n\n\n VANCOUVER, British Columbia, June 06, 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, is pleased to announce the closing of its previously announced non-brokered private placement for gross proceeds of $4,905,150 - consisting of $3,555,150 of Units and $1,350,000 of Debenture Units (each as defined below).\n \n\n The private placement consists of a combination of equity units (the “\n \n Units\n \n ”) and convertible debenture units (the “\n \n Debenture Units\n \n ”), issued at a price of $0.05 per Unit and $50,000 per Debenture Unit. Each Unit includes one common share of the Company (a “\n \n Common Share\n \n ”) and one Common Share purchase warrant (a “\n \n Warrant\n \n ”). Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.10 for a period of 24 months following the date of issuance, subject to acceleration in certain scenarios and customary adjustments.\n \n\n Each Debenture Unit is comprised of one unsecured convertible debenture (a “\n \n Debenture\n \n ”) in the principal amount of $50,000 and 100,000 Common Share purchase warrants (the “\n \n Debenture Warrants\n \n ”). Each Debenture Warrant will entitle the holder to purchase one additional Common Share at a price of $0.15 for a period of 24 months from issuance, subject to customary adjustments. The principal amount of each Debenture shall be repayable in 36 months from issuance (unless earlier converted or redeemed) and will accrue interest at a rate of 12% per annum. Until the principal amount is repaid, a Debenture holder shall have the option to convert the principal amount of the Debenture into Common Shares at a conversion price of $0.10 per Common Share, subject to customary adjustments, including adjustment upon completion of the proposed Consolidation (as defined below). Rakovina shall be entitled to redeem all or a portion of the principal amount of each Debenture at any time commencing 12 mon...