Medicus Pharma Ltd. (MDCX): Nasdaq/NYSE listing notice — Medicus Pharma closes $22M secured notes with Streeterville; receives Nasdaq MVLS non-compliance notice

Medicus Pharma Ltd.

Issued two secured promissory notes to Streeterville Capital: A-1 ($12.86M principal, net $12M) and B ($10M in DACA), maturing in 18 months.
A-1 Note carries 8.75% interest and $834K OID; B Note 5% interest. Prepayment premiums of 110-115% apply.
Proceeds support clinical development, strategic initiatives, and repayment of $2.5M YA II PN debenture.
Nasdaq notified non-compliance with $35M MVLS requirement; company has 180 days to regain compliance by Nov 16, 2026.
B Note can be exchanged for A Notes when A principal reduced by $2M; trigger events allow balance increases of 15%/5%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Medicus Pharma Ltd. incurred loan of $12,864,225 with Streeterville Capital, LLC at 8.75% per annum maturing eighteen months following the date of issuance.

Instrument: loan
Principal: $12,864,225
Counterparty: Streeterville Capital, LLC
Rate: 8.75% per annum
Maturity: eighteen months following the date of issuance
Event: incurrence

Exact text from the filing

with Streeterville Capital, LLC, (the "Lender") providing for the issuance of two secured promissory notes: (i) a Secured Promissory Note A-1 in the original principal amount of $12,864,225 (the "A-1 Note") and (ii) a Secured Promissory Note B in the original principal amount of $10,000,000 (the "B Note" and together with the A-1 Note, the "Notes"). The A-1 Note

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Medicus Pharma Ltd. incurred loan of $10,000,000 with Streeterville Capital, LLC at 5% per annum maturing eighteen months following the date of issuance.

Instrument: loan
Principal: $10,000,000
Counterparty: Streeterville Capital, LLC
Rate: 5% per annum
Maturity: eighteen months following the date of issuance
Event: incurrence

Exact text from the filing

(i) a Secured Promissory Note A-1 in the original principal amount of $12,864,225 (the "A-1 Note") and (ii) a Secured Promissory Note B in the original principal amount of $10,000,000 (the "B Note" and together with the A-1 Note, the "Notes"). The A-1 Note carries an original issue discount ("OID") of $834,225 and the Company agreed to pay $30,000 to the Lender

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Medicus Pharma Ltd. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2), 5550(b)(1), 5550(b)(3), 5810(c)(3)(C)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2), 5550(b)(1), 5550(b)(3), 5810(c)(3)(C)

Exact text from the filing

May 20, 2026, the Company received written notice (the "Notice") from the Listing Qualifications Department of the Nasdaq notifying the Company that it is not in compliance with the minimum Market Value of Listed Securit

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Medicus Pharma Ltd. filing history →

Source: SEC EDGAR

accession 0001062993-26-002900

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