InMed Pharmaceuticals Inc. (NASDAQ:INM) has entered into securities purchase agreements with a single healthcare-focused institutional investor for the issuance and sale of 4.08 million of its common shares at a purchase price of $0.858 per share in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, InMed has also agreed to issue and sell to the investor 1.75 million common shares at the same purchase price as in the registered direct offering.
In addition, the company has agreed to issue to the investor in the offerings unregistered preferred investment options to purchase up to an aggregate of 5.83 million common shares. The aggregate gross proceeds to the company of both offerings are expected to be approximately $5 million. The offerings are expected to close on or about June 6, 2022, subject to the satisfaction of customary closing conditions.
