Edesa Biotech enters ATM equity distribution agreement for up to $20M (current capacity $8.37M)

Edesa Biotech, Inc.

Up to $20M aggregate offering price; currently limited to ~$8.37M under S-3 rules.
Canaccord receives 3% commission; shares sold at-the-market.
Net proceeds for general corporate purposes including R&D and working capital.
Agreement dated March 27, 2023; filed as Exhibit 1.1.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Edesa Biotech, Inc. entered into Equity Distribution Agreement with Canaccord Genuity LLC valued at up to $20.0 million (effective 2023-03-27).

Action: entry
Agreement: atm program
Counterparty: Canaccord Genuity LLC
Value: up to $20.0 million
Effective: 2023-03-27

Exact text from the filing

On March 27, 2023 Edesa Biotech, Inc. (the “Company”) entered into an Equity Distribution Agreement (the “Distribution Agreement”) with Canaccord Genuity LLC (“Canaccord”), pursuant to which the Company may offer and sell from time to time, through Canaccord as sales agent and/or principal, common shares of the Company, no par value per share (the “Common Shares”), having an aggregate offering price of up to $20.0 million.

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23 material agreements filed in the last 30 days. Browse all material agreements →

Edesa Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-037164

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