Proactive Investors - Run By Investors For Investors

Aequus Pharmaceuticals brings in $2.35 million after closing offering

The specialty pharmaceutical firm issued 2,348 convertible debenture units at $1,000 a pop
Test tubes
Funds will go toward the launch of Medicom products and other uses

Aequus Pharmaceuticals Inc (CVE:AQS) (OTCMKTS:AQSZF) has closed its previously announced offering, raising around $2.35 million to invest in the medical cannabis space and advance its products through regulatory applications.

The specialty pharmaceutical firm issued 2,348 convertible debenture units at $1,000 a pop.

READ: Aequus to raise C$3 million to advance pipeline of specialty pharmaceutical products

Each unit comprises one 9.5% unsecured convertible debenture of Aequus and 2,380 common share purchase warrants.

Each convertible debenture can be converted into company shares at $0.21 per debenture share, with interest payable semi-annually in arrears on June 30 and December 31 of each year and maturing May 2, 2022.

Each warrant allows the holder the right to buy one share at an exercise price of $0.22 each at any time up to May 2, 2022.

The bulk of the proceeds are aimed to be used for regulatory applications.

Funds will also go towards the launch of the recently announced Medicom products, investments in the medical cannabis space, initiation of the Trokendi clinical study, working capital and general corporate purposes.

Based in Vancouver, Aequus has several commercial products in ophthalmology and transplant in its pipeline and a development stage pipeline in neurology and psychiatry. Its most recent addition to the pipeline was a long-acting form of medical cannabis.

The offering was led by Mackie Research Capital Corporation.

Contact Giles at [email protected]

View full AQS profile View Profile

Aequus Pharmaceuticals Inc Timeline

Related Articles

January 15 2019
Under former chief executive Peter George and his successor Shaun Chilton, Clinigen has been transformed via a series of well-judged, quickly integrated and cash generative acquisitions
lab worker
May 20 2019
Here we take a closer look at Scancell, which is at the vanguard of immuno-oncology
scientist in laboratory
May 24 2019
Here we take a closer look at healthcare investor NetScientific PLC (LON:NSCI)
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use