Breaking News: InMed Strikes Deal for Standby Equity Purchase Agreement!
Vancouver, British Columbia–(Newsfile Corp. – December 17, 2024)
InMed Pharmaceuticals Inc. (NASDAQ: INM) (“InMed” or the “Company”), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, announces it entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD (the “Investor”), an investment fund managed by Yorkville Advisors Global LP, a global investment manager, on December 13, 2024 (the “Effective Date”) to sell up to $10 million in the aggregate of the Company’s common shares, no value (the “Common Shares”), at any time during the 36-month period following the Effective Date of the SEPA, subject to the effectiveness of a registration statement with the Securities and Exchange Commission and other conditions set forth in the SEPA.
“This equity facility is a key component of our financing strategy, offering both flexibility and extended runway to accelerate our pharmaceutical programs and other business development initiatives,” said Eric A.
How will this affect me?
As a shareholder or potential investor of InMed Pharmaceuticals Inc., this Standby Equity Purchase Agreement could potentially impact your investment in the company. The agreement allows for the sale of up to $10 million in common shares over a 36-month period, which could dilute the value of existing shares in the market. However, this financing strategy could also provide the company with the necessary funding to accelerate their pharmaceutical programs and business development initiatives, potentially leading to future growth and increased shareholder value.
How will this affect the world?
On a larger scale, this deal could have implications for the pharmaceutical industry and the development of new drug candidates for diseases with high unmet medical needs. By providing InMed Pharmaceuticals Inc. with additional funding through the Standby Equity Purchase Agreement, there is potential for the acceleration of innovative pharmaceutical programs that could ultimately benefit patients worldwide. This agreement demonstrates a commitment to advancing healthcare solutions and addressing critical medical challenges that affect communities around the globe.
Conclusion
InMed Pharmaceuticals Inc.’s recent announcement of entering into a Standby Equity Purchase Agreement with YA II PN, LTD marks a significant milestone in their financing strategy and business development initiatives. The agreement has the potential to impact shareholders and the pharmaceutical industry as a whole, providing both opportunities and challenges for future growth and innovation. As the company navigates through this new partnership, it will be interesting to see the impact on their pipeline of drug candidates and the overall healthcare landscape.
