Edesa Biotech announces $15M private placement led by Velan Capital; appoints David Liu to board

Edesa Biotech, Inc.

Gross proceeds of $15M from sale of Series B-1 convertible preferred shares ($10K each) and 3.47M common shares at $1.92/share.
Proceeds to fund Phase 2 study of EB06 (CXCL10 antibody) for nonsegmental vitiligo and for working capital.
Velan Capital led placement; officers/directors purchased ~$1.1M of securities.
David Liu, Senior Analyst at Velan Capital, appointed to Board of Directors effective immediately.
Company to file resale registration statement within 30 days; beneficial ownership cap of 4.99% (or 9.99% opt-in).

item 1.01 item 5.03 item 3.02 item 3.03 item 5.02 item 8.01 item 9.01

Executive movements

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Appointed

David Liu

Director

EDSA · Edesa Biotech, Inc.

Effective: 2025-02-12
Filed: February 13, 2025, 6:59 PM ET

the Company appointed David Liu, the Lead Investor Nominee, to serve on the Board of Directors

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

David Liu was appointed as Director at Edesa Biotech, Inc..

Action: appointed
Role: Director

Exact text from the filing

the Company appointed David Liu, the Lead Investor Nominee, to serve on the Board of Directors

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Edesa Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-25-000796

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