XORTX Announces Closing of US$1.1 Million Registered Direct Offering

About this update from Xortx Therapeutics, Inc.

[{"type":"text","content":"XORTX Announces Closing of US$1.1 Million Registered Direct Offering\n\n\n\n CALGARY, Alberta, Oct. 29, 2025 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. (\"\n \n XORTX\n \n \" or the “\n \n Company\n \n ”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat gout and progressive kidney disease, announces that it has closed its registered direct offering announced on October 21, 2025, for the purchase and sale of 1,750,000 common shares (the “\n \n Common Shares\n \n ”) (or pre-funded warrants (the “\n \n Pre-Funded Warrants\n \n ”) in lieu thereof) in a registered direct offering (the “\n \n Offering\n \n ”) at a purchase price of US$0.63 per common share.\n \n\n In connection with the Offering, the Company entered into a definitive securities purchase agreement with an institutional investor pursuant to which the Company has issued 572,470 Common Shares and 1,117,530 Pre-Funded Warrants. Each Pre-funded Warrant will entitle the holder to acquire one common share at an exercise price of $0.001 per share.\n \n\n The gross proceeds from the Offering were US$1,102,500.00, before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.\n \n\n D. Boral Capital LLC acted as sole placement agent for the Offering, and will be issued 87,500 agent warrants. Each agent warrant is exercisable into one Common Share of the Company at an exercise price of US$0.69 per Common Share commencing 181 days following issuance, and has a term of eighteen months from the closing date.\n \n\n The Common Shares (and Pre-Funded Warrants in lieu thereof) were issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 (File No. 333-269429) previously filed with the U.S. Securities and Exchange Commission (the “\n \n SEC\n \n ”), under the Securities Act of 1933, as amended (the “\n \n Securities Act\n \n ”), and declared effective by the SEC on February 3, 2023. A final prospectus supplement describing the terms of the proposed registered direct offering was filed with the SEC and is available on the SEC&...

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