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

Extracted from this filing and checked against the source text.

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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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Edesa Biotech, Inc.: Filed notice of alteration to articles to create rights, preferences and restrictions for Series B-1 Convertible Preferred Shares (effective 2025-02-12).

Change: charter amendment
Effective: 2025-02-12

Exact text from the filing

On February 12, 2025, the Company filed a notice of alteration to its articles to create the rights, preferences and restrictions pertaining to the Preferred Shares.

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11 governance changes filed in the last 30 days. Browse all governance changes →

Edesa Biotech, Inc. filing history →

Source: SEC EDGAR

accession 0001171843-25-000796

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