Subscribe
Be the first with the news that moves the market- Algernon (AGN) subsidiary, Algernon NeuroScience, has received a new U.S. SEC qualification
- The subsidiary’s Form 1-A offering statement filed with the U.S. SEC has been qualified for a Tier II Regulation A+ offering for up to US$10M beginning in May 2023
- The subsidiary will allocate the capital to research, development, and program management costs related to its Phase 1 DMT study, as well as its Phase 2a stroke and traumatic brain injury studies
- Algernon Pharmaceuticals is a Canadian clinical-stage drug development company with active research programs for IPF, chronic cough, and chronic kidney disease
- Algernon Pharmaceuticals (AGN) is down by 3.64 per cent trading at $0.265 per share
Algernon (AGN) subsidiary, Algernon NeuroScience, has received a new U.S. SEC qualification.
The subsidiary’s Form 1-A offering statement filed with the U.S. SEC has been qualified for a Tier II Regulation A+ offering for up to US$10M.
The subsidiary will allocate the capital to research, development, and program management costs related to its Phase 1 DMT study, which is currently underway, as well as its Phase 2a stroke and traumatic brain injury studies.
Algernon Pharmaceuticals has valued its subsidiary’s psychedelic DMT stroke and traumatic brain injury research program at US$20M.
Under Regulation A+, Algernon NeuroScience will offer up to 37.5 per cent of its common shares, with majority ownership residing with its Algernon parent.
Class A common shares will be offered at US$1 per share with a minimum investment of US$1,000. Bonus shares will be issued on the following basis:
- US$15,000 investment – 5 per cent bonus shares
- US$25,000 investment – 10 per cent bonus shares
- US$100,000 investment – 15 per cent bonus shares
- US$250,000 investment – 20 per cent bonus shares
The Reg A+ offering will be marketed in early May 2023.
Algernon Pharmaceuticals is a Canadian clinical-stage drug development company with active research programs for IPF, chronic cough, and chronic kidney disease. Its private subsidiary, Algernon NeuroScience, is advancing a psychedelic program investigating a proprietary form of psychedelic DMT for stroke and traumatic brain injury.
Algernon Pharmaceuticals (AGN) is down by 3.64 per cent trading at $0.265 per share as of 9:59 am EST.
For full disclaimer information, please click here.
