Medexus Pharmaceuticals Closes $30M Offering: A Boost for Growth and Debt Repayment

Medexus Pharmaceuticals Inc. (TSX: MDP) has successfully closed its overnight marketed public offering of common shares, raising $30 million. The offering was priced at $4.00 per share, with the net proceeds intended to repay a US$2.5 million credit received from medac in September 2021, pay a portion of the milestone payment amount to medac, and for working capital and general corporate purposes, which may include funding the Company’s ongoing business development activities and initiatives.

The offering was conducted by way of a prospectus supplement to the Company’s base shelf prospectus dated November 15, 2024, to be filed in each of the provinces and territories of Canada (other than Québec). Additionally, the Common Shares may be offered in the United States on a private placement basis pursuant to exemptions from the registration requirements under Rule 144A and/or Regulation D of the United States Securities Act of 1933, as amended, subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange, and in those other jurisdictions outside of Canada and the United States, provided that no prospectus filing or comparable obligation arises in such other jurisdiction.



The successful completion of this offering reflects Medexus Pharmaceuticals' ability to raise capital to support its growth and expansion plans in the competitive pharmaceutical industry. As a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions, Medexus Pharmaceuticals is well-positioned to capitalize on the growing demand for innovative and rare disease treatment solutions. The offering is a testament to the Company’s ability to raise capital to support its growth and expansion plans, enabling Medexus Pharmaceuticals to repay its debt obligations, invest in its ongoing business development activities, and continue to expand its portfolio of innovative and rare disease treatment solutions.

In conclusion, the $30 million overnight marketed public offering of common shares by Medexus Pharmaceuticals is a significant milestone for the company. The successful completion of the offering demonstrates Medexus Pharmaceuticals' ability to raise capital, which will be used to repay debt, fulfill financial obligations, and invest in business development and working capital. This will strengthen the company's financial position, enhance its growth prospects, and support its long-term strategic goals in the competitive pharmaceutical industry.