InMed Pharmaceuticals (NASDAQ: INM) is a leader in the research, development, manufacturing and commercialization of rare cannabinoids. The company today announced its entry into securities purchase agreements with a single health care-focused institutional investor for the issuance and sale of 4,079,256 of its common shares, each at a purchase price of $0.858 (or pre-funded warrant in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, InMed has also agreed to issue and sell to the investor 1,748,250 common shares (or pre-funded warrant in lieu thereto) at the same purchase price as in the registered direct offering. In addition, the company has agreed to issue to the investor in the offerings unregistered preferred investment options to purchase up to an aggregate of 5,827,506 common shares. The company expects aggregate gross proceeds of approximately $5 million through both offerings, which are expected to close on or about June 6, 2022, subject to the satisfaction of customary conditions. InMed intends to use the net proceeds to continue pipeline development, advance commercial activities and for general working capital purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.
To view the full press release, visit https://ibn.fm/LFUFM
About InMed Pharmaceuticals Inc.
InMed Pharmaceuticals is a global leader in the research, development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary BayMedica LLC, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is also a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients who may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.InMedPharma.com and www.BayMedica.com.
NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://ibn.fm/INM
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.investorwire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork.