ProMIS Neurosciences announces private placement financing

ProMIS Neurosciences (PMN) entered into a purchase agreement with an existing institutional and accredited investor to issue and sell an aggregate of approximately $2.4M of warrants. The Warrants were sold at a price of $0.1875 per share through a private investment in public equity financing. The Warrants have an exercise price of $1.25 per Warrant Share, are immediately exercisable and will expire five years from the date of initial issuance. The PIPE financing included participation from an existing healthcare focused institutional investor. ProMIS anticipates the gross proceeds from the PIPE financing to be approximately $2.4M, before deducting fees and other offering expenses payable by the Company. In conjunction with the proceeds from the exercise of existing warrants, the total gross proceeds to the Company inclusive of the PIPE Offering will be approximately $9.2M. The PIPE financing is expected to close on July 24, 2025, subject to customary closing conditions. Proceeds from the PIPE financing are expected to be used to advance the clinical development of PMN310, ProMIS’ lead therapeutic candidate, as well as for working capital and other general corporate expenses.