InMed Pharmaceuticals announces $5M private placement

InMed Pharmaceuticals (INM) announced that it has entered into definitive agreements with a single institutional investor for the issuance and sale of 1,952,363 of its common shares or pre-funded warrants in lieu thereof and short-term preferred investment options to purchase up to an aggregate of 1,952,363 common shares, at a purchase price of $2.561 per share or pre-funded warrant in lieu thereof and associated short-term preferred investment option in a private placement priced at-the-market under Nasdaq rules. The short-term preferred investment option to be issued in the offering will be exercisable immediately upon issuance at an exercise price of $2.436 per share and will expire eighteen months from the effective date of the resale registration statement. H.C. Wainwright is acting as the exclusive placement agent for the offering.