InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, has closed on a private placement with two healthcare-focused institutional investors. The placement included the sale of 1,818,185 INM common shares, which were issued at a purchase price of $3.30 per share (or prefunded warrant in lieu thereof); the shares were priced at-the-market under NASDAQ rules. The announcement also noted that InMed issued unregistered preferred investment options to the investors in the offering to purchase up to 3,272,733 common shares. The offering resulted in approximately $6 million in gross proceeds for the company, which plans to use the funds to continue pipeline development of its pharmaceutical drug candidates as well as advance manufacturing know-how of cannabinoids and cannabinoid analogs; the company may also use portions of the proceeds to support intellectual property development and other commercial activities and for general working capital purposes. According to the announcement, H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
To view the full press release, visit https://ibn.fm/5E3kr
About InMed Pharmaceuticals Inc.
InMed Pharmaceuticals is a global leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. The company also has significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors. For more information, please visit www.InMedPharma.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 MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
[email protected]
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html