Core Viewpoint - InMed Pharmaceuticals has entered into a Standby Equity Purchase Agreement (SEPA) with YA II PN, LTD to sell up to $10 million in common shares over a 36-month period, aimed at supporting its pharmaceutical development initiatives [2][3]. Financing Strategy - The SEPA is described as a key component of the company's financing strategy, providing flexibility and an extended runway for accelerating pharmaceutical programs and business development [3]. - The company can raise capital on an as-needed basis, allowing control over the timing and amount of capital raised [3]. Share Issuance Details - The total number of common shares that can be issued under the SEPA is limited to 19.99% of the outstanding shares as of the effective date, unless certain pricing conditions are met [3]. - The issuance is also subject to a limitation where the investor and its affiliates cannot own more than 9.99% of the total shares [3]. Pricing Mechanism - Common shares sold to the investor will be priced at 97% of the market price during a specified three-day pricing period [4]. - The company retains the right to set a minimum acceptable price for these share issuances [4]. Company Overview - InMed Pharmaceuticals focuses on developing proprietary small molecule drug candidates targeting CB1/CB2 receptors, with programs aimed at treating Alzheimer's, ocular, and dermatological conditions [6].
InMed Enters Into Standby Equity Purchase Agreement