Algernon Pharmaceuticals Inc.’s C$1.1 Million Public Offering

Fasken Martineau DuMoulin LLP advised the sole agent and sole bookrunner.

On July 4, 2022, Algernon Pharmaceuticals Inc. (CNSX:AGN) announced the closing of its previously announced marketed public offering for gross proceeds of C$1,159,188.75 with Research Capital Corporation as the sole agent and sole bookrunner.

Algernon issued an aggregate of 309,117 units at a price of C$3.75 per unit. The proceeds are anticipated to be used to fund research and development programs, general and administrative expenses and for working capital purposes.

Algernon is a drug re-purposing company that investigates safe, already approved drugs for new disease applications, moving them efficiently and safely into new human trials, developing new formulations and seeking new regulatory approvals in global markets.

The Faskenn team was led by John Sabetti (Picture) (Corporate Finance and Securities), and which included David Pak, Andreea Andrei and Josh Hersh (Corporate Finance and Securities), Mitchell Thaw (Tax), Armand Benitah and Nathan Haldane (Intellectual Property), and Mark Vanderveken (Healthcare Regulatory).

Involved fees earner: Andreea Andrei – Fasken Martineau; Armand Benitah – Fasken Martineau; Nathan Haldane – Fasken Martineau; Josh Hersh – Fasken Martineau; David Pak – Fasken Martineau; John Sabetti – Fasken Martineau; Mitchell Thaw – Fasken Martineau; Mark Vanderveken – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: Research Capital Corporation;

Sonia Carcano

Author: Sonia Carcano