Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL), a life sciences company dedicated to finding new treatments for heart disease, has just wrapped up a big public offering. They sold 8,437,500 Class A common shares at a price of US$1.60 per share, bringing in US$13.5 million in total before taking out fees and other expenses.
Where’s the Money Going?
The funds will be used to develop CardiolRx, a treatment for a heart condition called recurrent pericarditis, and to cover general costs, like administrative and working expenses.
A Big Name Behind the Deal
Canaccord Genuity, a top financial services firm, acted as the sole bookrunner, managing the offering for Cardiol.
Important Details on the Offering
The offering was made possible by a U.S. registration statement, approved by the Securities and Exchange Commission (SEC) on July 16, 2024. Cardiol also filed important documents with the Canadian securities commissions (except Quebec) and the SEC to make this all official. These documents, called the Supplement and Base Prospectus, contain critical details about the offering.
You can find these documents on SEDAR+ and EDGAR, or by reaching out to Canaccord Genuity LLC for copies.
What’s Next for Cardiol?
With the money raised, Cardiol is moving forward in its mission to combat heart disease through cutting-edge research and development of therapies that could improve lives.
This announcement is just the beginning—stay tuned for more updates as they push forward in the world of medical breakthroughs!