Fundraisings and IPOs

Date: 2017-04-13

Type of information: Restructuring

Company: Delmar Pharmaceuticals (USA - CA)


Amount: $ 9 million

Funding type: private placement

Planned used: DelMar intends to use the net proceeds from the offering for general corporate purposes, which may include working capital, capital expenditures, research and development and other commercial expenditures.

Others: • On April 13, 2017, DelMar Pharmaceuticals announced that it has priced a registered public offering of an aggregate of 2,769,232 shares of common stock and warrants to purchase an aggregate of 2,076,924 shares of common stock at a price to the public of $3.25 per share and related warrant. The warrants have an exercise price of $3.50 per share, are immediately exercisable and have a term of exercise of five years. The offering is expected to close on or about April 18, 2017, subject to the satisfaction of customary closing conditions. Rodman & Renshaw, a unit of H.C. Wainwright & Co., is acting as exclusive placement agent for the offering. The aggregate gross proceeds of the offering, if completed, are anticipated to be approximately $9,000,000. After deducting the placement agent's fees and other estimated offering expenses payable by DelMar, the net proceeds of the offering, if completed, to DelMar are anticipated to be approximately $8,000,000.  

Therapeutic area: Cancer - Oncology

Is general: Yes