---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-037189"
form_type: "8-K"
ticker: "MIST"
cik: "0001408443"
company_name: "Milestone Pharmaceuticals Inc."
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T14:40:56.340537+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Milestone exchanges 1.06M shares with RTW for pre-funded warrants; adds director Fischer

## Summary
- Exchanged 1,059,000 common shares with RTW Investments for pre-funded warrants at $0.001 exercise price, no expiration.
- Warrants immediately exercisable; subject to 9.99% beneficial ownership limitation.
- Seth H.Z. Fischer elected to Board, effective March 21, 2023; over 40 years pharma experience, including Johnson & Johnson.
- Fischer receives $35,000 annual cash retainer and initial option for 42,000 shares vesting over 3 years.

## SEC filing metadata
- accession: 0001104659-23-037189
- form_type: 8-K
- ticker: MIST
- cik: 0001408443
- company_name: Milestone Pharmaceuticals Inc.
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1408443/000110465923037189/0001104659-23-037189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1408443/000110465923037189/tm2310615d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-037189
- JSON: https://secwatch.observer/filing/0001104659-23-037189.json
- Plain text: https://secwatch.observer/filing/0001104659-23-037189.txt

## Key facts
- Executive change
  Seth H.Z. Fischer was elected as Director at Milestone Pharmaceuticals Inc..
  - Action: elected
  - Role: Director
  source text: voted to elect Seth H.Z. Fischer to the Board, effective as of March 21, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1408443/000110465923037189/0001104659-23-037189-index.htm
- Material Agreements
  Milestone Pharmaceuticals Inc. entered into Exchange Agreement with entities affiliated with RTW Investments valued at Exchanged 1,059,000 common shares for pre-funded warrants to purchase 1,059,000 common shares at $0. (effective 2023-03-22).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: entities affiliated with RTW Investments
  - Value: Exchanged 1,059,000 common shares for pre-funded warrants to purchase 1,059,000 common shares at $0.
  - Effective: 2023-03-22
  source text: On March 22, 2023, Milestone Pharmaceuticals Inc. (the “Company”) entered into an exchange agreement (the “Exchange Agreement”) with entities affiliated with RTW Investments (the “Exchanging Stockholders”), pursuant to which the Company exchanged an aggregate of 1,059,000 shares of the Company’s common shares, no par value per share (the “Common Shares”), owned by the Exchanging Stockholders for pre-funded warrants (the “Exchange Warrants”) to purchase an aggregate of 1,059,000 Common Shares, with an exercise price of $0.001 per share and no expiration date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1408443/000110465923037189/0001104659-23-037189-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.