Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Comey to be arraigned in federal court after...
Comey pleads not guilty in court after indictment...
Houthi rebels test US ceasefire with deadly strike...
Kushner joins Witkoff for Gaza ceasefire talks as...
Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved...
White House escalates shutdown consequences as Democrats show...
Moderate Dem undercuts Jeffries on ObamaCare compromise as...
MIKE DAVIS: The Supreme Court betrayed again —...
Senate Democrats defy White House warnings, again block...
Greta Thunberg slammed for using image of starved...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Cardiol Therapeutics Announces Closing of US$13.5 Million Public Offering of Common Shares

by admin October 11, 2024
October 11, 2024
Cardiol Therapeutics Announces Closing of US$13.5 Million Public Offering of Common Shares

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol’ or the ‘Company’), a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, confirmed today that it has successfully closed its previously announced public offering (the ‘Offering’) of 8,437,500 Class A common shares of the Company (the ‘Common Shares’) at a price to the public of US$1.60 per Common Share for gross proceeds of US$13.5 million, before deducting the underwriting discounts and commissions and estimated expenses incurred in connection with the Offering.

As previously stated, the Company intends to use the net proceeds from the Offering to support the clinical development of CardiolRx for the treatment of recurrent pericarditis and for general and administrative expenses, working capital and other expenses.

Canaccord Genuity acted as the sole bookrunner in connection with the Offering.

The Offering was made pursuant to a U.S. registration statement on Form F-10, declared effective by the U.S. Securities and Exchange Commissions (the ‘SEC’) on July 16, 2024 (the ‘Registration Statement’), and the Company’s existing Canadian short form base shelf prospectus (the ‘Base Prospectus’) dated July 12, 2024. A preliminary prospectus supplement relating to the Offering was filed with the securities commission in all of the provinces and territories of Canada, except Quebec, and with the SEC in the United States, and a final prospectus supplement relating to the Offering (the ‘Supplement’) was filed with the securities commissions in all of the provinces and territories of Canada, except Quebec, and with the SEC in the United States. The Supplement and accompanying Base Prospectus contain important detailed information about the Offering.

The Supplement and accompanying Base Prospectus can be found on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Copies of the Supplement and accompanying Base Prospectus may also be obtained from Canaccord Genuity LLC, 1 Post Office Square, Suite 3000, Boston, Massachusetts 02109, Attn: Syndicate Department, or by email at prospectus@cgf.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease.

Cautionary statement regarding forward-looking information:

This news release contains ‘forward-looking information’ within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are ‘forward-looking information’. Forward looking information contained herein may include, but is not limited to statements regarding the anticipated use of proceeds from the Offering. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and Canadian securities regulators on April 1, 2024, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements and are encouraged to read the Supplement, the accompanying Base Prospectus and the documents incorporated by reference therein.

For further information, please contact:
Trevor Burns, Investor Relations +1-289-910-0855
trevor.burns@cardiolrx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226257

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

previous post
Dynasty Gold Announces 2024 Annual General Meeting Results and Provides Thundercloud Drilling Update
next post
Skyharbour’s Partner North Shore Continues Drill Target Generation at Falcon Uranium Project

You may also like

Adisyn Ltd (ASX: AI1) – Reinstatement to Quotation

October 23, 2024

Altech Batteries LtdCERENERGY Battery Project Funding Update

November 22, 2024

Mernova Q3 Revenue Update

July 24, 2024

10 Generative AI Stocks to Watch as ChatGPT...

September 5, 2025

Hydrology Drilling to Support Scoping Study Commenced

January 17, 2025

NextSource Materials Closes Private Placement for Gross Proceeds...

October 12, 2024

Providence Gold Mines Inc. Announces Financing Update on...

September 13, 2025

Forum Energy Metals

September 28, 2024

Sarama Resources Consolidates Position in Western Australian Goldfields

January 13, 2025

CNN Fear and Greed Index Plunges to Lowest...

April 12, 2025

Recent Posts

  • Comey to be arraigned in federal court after being indicted for alleged false statements, obstruction
  • Comey pleads not guilty in court after indictment on alleged false statements, obstruction
  • Houthi rebels test US ceasefire with deadly strike on cargo ship
  • Kushner joins Witkoff for Gaza ceasefire talks as Trump pushes peace plan: ‘Cautiously optimistic’
  • Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved socialism fails after killing NYC Amazon deal

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (936)
    • Investing (3,147)
    • Politics (3,845)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.