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InMed Pharmaceuticals Inc. (NASDAQ: INM) (TSX: IN), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the clinical development of cannabinol ("CBN"), has closed an underwritten public offering. Under the terms of the underwritten public offering, an aggregate of 1,780,000 common shares, together with accompanying warrants, were purchased at a public offering price of US$4.50 per share and accompanying warrant. Each common share was sold in the offering with one warrant to purchase one common share. The warrants have an exercise price of US$5.11 per share, are immediately exercisable upon issuance, and expire six years following the date of issuance.
The underwriters have also been granted an option to purchase an additional 267,000 common shares and additional warrants to purchase up to an aggregate of 267,000 common shares for a period of 45 days. The resulting gross proceeds to InMed Pharmaceuticals Inc. from the offering were approximately US$8 million.
Roth Capital Partners acted as sole book-running manager for the offering.
About InMed Pharmaceuticals Inc.
InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol ("CBN") in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines. For more information, please visit
(Source: Company Press Release | 11.12.20)
About Roth Capital Partners
Roth Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and
their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading,
market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and
maintains offices throughout the U.S. For more information on ROTH, please visit
Date of Announcement: 11.24.20
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