Medexus Pharmaceuticals Raises $30 Million in Overnight Marketed Public Offering of Common Shares

Medexus Pharmaceuticals Inc. (TSX: MDP) has announced the pricing of its overnight marketed public offering of common shares, raising $30 million. The offering consists of 10,169,470 common shares at a price of C$2.95 per share. The net proceeds from the offering will be used 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 is expected to close on or about January 31, 2025, subject to market and other customary closing conditions. The offering is being 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). In addition, 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.

Medexus Pharmaceuticals is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. The Company’s current focus is on the therapeutic areas of oncology, hematology, rheumatology, auto-immune diseases, allergy, and dermatology. The successful completion of this offering demonstrates Medexus Pharmaceuticals’ ability to raise capital to support its growth and expansion plans.




In conclusion, Medexus Pharmaceuticals’ $30 million overnight marketed public offering of common shares reflects the Company’s strong market position and growth potential. The successful completion of this offering will enable 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. As a leading specialty pharmaceutical company, Medexus Pharmaceuticals is well-positioned to capitalize on the growing demand for innovative and rare disease treatment solutions, and this offering is a testament to the Company’s ability to raise capital to support its growth and expansion plans.