Corporate ActionMay 19, 2026, 07:02 AM
XORTX Therapeutics Closes US$5M Public Offering
AI Summary
XORTX Therapeutics Inc. has closed its previously announced public offering, raising gross proceeds of US$5 million. 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/equivalent. The net proceeds will be used for working capital, general corporate purposes, and investor relations activities, including US$2.5 million allocated for marketing and advertising services.
Key Highlights
- Closed public offering raising gross proceeds of 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.
- E.F. Hutton & Co. received a US$200,000 cash commission (4%).
- US$2.5 million of proceeds allocated to IR Agency LLC for marketing and advertising services.
- Net proceeds will be used for working capital and general corporate purposes.
Price Impact
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