logo-loader
Aequus Pharmaceuticals Inc

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]

Quick facts: Aequus Pharmaceuticals Inc

Price: $0.15

Market: TSX-V
Market Cap: $12.07 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Aequus Pharmaceuticals Inc named herein, including the promotion by the Company of Aequus Pharmaceuticals Inc in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Aequus Pharmaceuticals acquires Canadian rights to therapies for Dry Eye

Aequus Pharmaceuticals (CVE:AQS-OTCQB-) Chairman and CEO Doug Janzen sat down with Steve Darling from Proactive Investors Vancouver to discuss the company acquiring the Canadian rights to a line of products that help people deal with Dry Eye. 

on 13/3/19

2 min read