Corporate ActionMay 19, 2026, 07:02 AM
XORTX Closes Public Offering, Raises US$5 Million Gross Proceeds
AI Summary
XORTX Therapeutics Inc. has closed its previously announced public offering, raising US$5 million in gross proceeds. The offering involved the issuance of 183,577 common shares and 2,475,997 pre-funded warrants at a purchase price of US$1.88 per share or equivalent. The company intends to use the net proceeds for working capital and general corporate purposes, including allocating US$2.5 million for investor relations activities. The closing remains subject to final approval from the TSX Venture Exchange.
Key Highlights
- Closed public offering of 2,659,574 common shares or pre-funded warrants.
- Gross proceeds from the offering totaled US$5 million.
- Issued 183,577 common shares and 2,475,997 pre-funded warrants.
- Purchase price for shares/warrants was US$1.88 each.
- Pre-funded warrants have an exercise price of $0.0001 per share.
- US$2.5 million of proceeds allocated for investor relations with IR Agency LLC.
- E.F. Hutton & Co. received a US$200,000 cash commission (4%).
Price Impact
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