Medicus Pharma Ltd (TSE:MDCX) has released an update.
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Medicus Pharma Ltd. is initiating a private placement of convertible notes, aiming to raise up to $10 million with an initial closing of approximately $5.17 million. The notes, bearing 10% interest per annum, are set to mature at the end of 2025 and offer various conversion options to common shares, including automatic conversion under certain conditions before 2025 and optional conversion thereafter. This strategic financial move is geared towards bolstering the company’s capital structure with the assistance of EF Hutton LLC.
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