BioMedNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Closes $6M Private Placement Agreement
InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development and manufacturing of rare cannabinoids, has closed on a private placement agreement with two healthcare-focused institutional investors. The agreement consisted of the issue and sale of 691,245 of INM common shares prices at $8.68 per share (or prefunded warrant in lieu thereof), totaling approximately $6 million. According to the announcement, INM also issued unregistered preferred investment options allowing the investors to purchase up to 1,382,490 additional common shares. The company observed that the unregistered investment options issued are exercisable upon issuance at an exercise price of $8.44 per share with an…