- NervGen issued an aggregate of 3,250,000 units at C$1.55 per unit for aggregate gross proceeds of C$5,037,500
- Each unit is comprised of one common share and one-half of one common share purchase warrant
- Net proceeds will be allocated for continued work on their lead drug candidate, NVG-291
- NervGen Pharma is a biotech company dedicated to creating innovative solutions for the treatment of nerve damage and neurodegenerative diseases
- NervGen Pharma (NGEN) is down 6.21 per cent, trading at $1.36 per share at 11:30 am ET
NervGen Pharma (NGEN) has closed its previously announced overnight marketed public offering of units.
NervGen issued an aggregate of 3,250,000 units at C$1.55 per unit for aggregate gross proceeds of C$5,037,500.
Each unit is comprised of one common share and one-half of one common share purchase warrant. Each warrant is exercisable at a price of C$2.10 and entitles the holder to acquire one common share for a period of 2 years following the closing of the offering.
The offering was completed by the company and a syndicate of agents. The agents received 195,000 broker warrants. Each broker warrant is exercisable for one common share at the price of C$1.55 for a period of 24 months from the closing date of the offering.
Net proceeds will be allocated for continued work on their lead drug candidate, NVG-291, and for general corporate purposes.
The offering was completed in British Columbia, Alberta, Ontario and Nova Scotia by way of a final prospectus supplement dated May 5, 2021.
NervGen Pharma is a biotech company dedicated to creating innovative solutions for the treatment of nerve damage and neurodegenerative diseases.
NervGen Pharma (NGEN) is down 6.21 per cent, trading at $1.36 per share at 11:30 am ET.
