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XORTX Announces USD $925,000 Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STA...
About this update from Xortx Therapeutics, Inc.
[{"type":"text","content":"XORTX Announces USD $925,000 Private Placement\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES\n \n OR FOR DISSEMINATION IN THE UNITED STATES\n \n\n CALGARY, Alberta, June 26, 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 a non-brokered private placement to raise up to USD $925,000 through the issuance of up to 1,267,123 common share units of the Company at a price of USD $0.73 per unit (the “\n \n Offering\n \n ”). Each Unit will comprise one common share and one common share purchase warrant (a “\n \n Warrant\n \n ”). Each Warrant will entitle the holder, on exercise, to purchase one additional common share in the capital of the Company, at a price of USD $1.20 per Warrant until the close of business on the day which is 60 months from the Closing Date, provided, however, that if the closing price of the common shares on the Nasdaq is greater than USD $2.00 for 10 or more consecutive trading days, the Warrants will be accelerated and the Warrants will expire on the 30\n \n th\n \n business day following the date of such notice.\n \n\n Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“\n \n NI\n \n\n 45\n \n -\n \n 106\n \n ”), the Units will be offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “\n \n Listed\n \n\n Issuer\n \n\n Financing\n \n\n Exemption\n \n ”). Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.\n \n\n There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at https://www.xortx.com/. Prospective investors should read this offering document before making an investment decision.\n \n\n The ...