Medicus Pharma Ltd (TSE:MDCX) has released an update.
Medicus Pharma Ltd. has successfully completed the initial phase of its private placement, issuing US$5.17 million in 10% unsecured convertible notes, with potential for an additional amount up to US$10 million. These notes, maturing in 2025, offer semi-annual interest payments and can convert into common shares under specific conditions, such as an initial public offering in the United States or a change of company control. Investors also have the option to convert the notes at a set price or have them repurchased by the company under certain circumstances.
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