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/T3F8Q
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 BioMedWire
BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
To receive SMS text alerts from BioMedWire, text “Biotech” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.biomedwire.com
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer
BioMedWire (BMW)
San Francisco, California
www.biomedwire.com
415.949.5050 Office
Editor@BioMedWire.com
BioMedWire is part of the InvestorBrandNetwork
