Edesa Biotech Enters Securities Purchase Agreement for $3.5M Financing
Edesa Biotech announced that it has entered into a securities purchase agreement for a private investment in public equity financing that is expected to result in gross proceeds of approximately $3.5M to the company, before deducting offering expenses payable by Edesa. The common shares were placed without an agent, underwriter, broker or dealer. Investors in the PIPE include Edesa's CEO and healthcare-focused investors. The PIPE is expected to close on or about June 15, subject to the satisfaction of customary closing conditions. In the PIPE, the company is selling an aggregate of 729,241 common shares, at a purchase price of $4.69 per common share for investors and $5.21 per common share for Edesa's CEO.
