On October 10, 2024, Cardiol Therapeutics Inc., a clinical-stage life sciences company focused on researching and developing anti-inflammatory and anti-fibrotic therapies for heart disease, announced the successful closure of its public offering. The company sold 8,437,500 Class A common shares at a price of US$1.60 per share, resulting in gross proceeds of US$13.5 million. The net proceeds from the offering will be used to advance the clinical development of CardiolRx for the treatment of recurrent pericarditis, as well as for general administrative expenses and working capital.
Canaccord Genuity served as the sole bookrunner for the offering, which was conducted under a U.S. registration statement and Canadian short form base shelf prospectus. Detailed information about the offering can be found in the prospectus supplement available on SEDAR and EDGAR.
This news release does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction where such activities are unlawful. For more information about Cardiol Therapeutics, interested parties can visit the source version of the press release provided on the company’s website.
The release also contains a cautionary statement regarding forward-looking information, advising investors to carefully consider the risks and uncertainties associated with the company’s activities. Investors are encouraged to read the accompanying Base Prospectus for further details.
