DiaMedica Closes Public Offering in the United States
December 11 2018 - 4:30PM
DiaMedica Therapeutics Inc. (“
DiaMedica” or the
“
Company”) (NASDAQ:DMAC; TSXV:DMA), a clinical
stage biopharmaceutical company, announced today that it has
completed an underwritten initial public offering in the United
States (the “
Offering”) of 4.1 million voting
common shares, no par value, of the Company
(“
Shares”), at a price to the public of USD$4.00
per Share. All of the Shares were issued and sold by the Company.
The Shares were registered for sale pursuant to a Registration
Statement on Form S-1 (Registration No. 333-228313), filed with the
United States Securities and Exchange Commission and declared
effective on December 6, 2018.
On December 6, 2018, in connection with the
pricing of the Offering, the Company entered into an underwriting
agreement (the “Underwriting Agreement”) with
Craig-Hallum Capital Group LLC, the sole managing underwriter of
the Offering (the “Underwriter”), pursuant to
which the Company agreed to issue and sell the Shares to the
Underwriter at a purchase price of USD$3.74 per Share and the
Underwriter agreed to offer the Shares to the public at an initial
public offering price of USD$4.00. The Company also agreed to sell
and issue to the Underwriter for a price of USD$50 a warrant to
purchase Shares equal to 5.0% of the Shares sold in the offering at
an exercise price that is 120% of the initial public offering price
per share in the Offering. Accordingly, the Company issued the
Underwriter a warrant to purchase 205,000 Shares at an exercise
price of USD$4.80 per Share. The warrant is exercisable immediately
and expires on December 6, 2023.
About DiaMedica
DiaMedica is a clinical stage biopharmaceutical
company focused on developing novel treatments for neurological and
kidney diseases. DiaMedica’s shares are listed on TSX Venture
Exchange under the trading symbol “DMA” and on The Nasdaq Capital
Market under the trading symbol “DMAC.”
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
For further information:
Paul Papi Vice President of Business Development 2 Carlson
Parkway, Suite 260 Minneapolis, MN 55447 (617) 899-5941
info@diamedica.com
DiaMedica Inc. (TSXV:DMA)
Historical Stock Chart
From Jun 2024 to Jul 2024
DiaMedica Inc. (TSXV:DMA)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Diamedica Therapeutics (TSX Venture Exchange): 0 recent articles
More News Articles