- XORTX (XRX) begins trading today on the Nasdaq Capital Market in conjunction with a US$12 million public offering
- The company’s Nasdaq shares are listed under the symbol XRTX
- It will offer 2,906,000 units at a price of US$4.13 per unit with Alliance Global Partners acting as sole bookrunner
- The offering is expected to close on or about October 15, 2021
- XORTX Therapeutics is a pharmaceutical company focused on products to treat kidney disease, COVID-19 and type 2 diabetic nephropathy
- XORTX (XRX) is down by 30.13 per cent and is currently trading at $4.15 per share
XORTX (XRX) begins trading today on the Nasdaq Capital Market in conjunction with a US$12 million public offering.
The company’s Nasdaq shares are listed under the symbol XRTX.
The offering comprises 2,906,000 units at a price of US$4.13 per unit with Alliance Global Partners acting as sole bookrunner.
Each unit consists of one common share, no par value and one warrant to purchase one common share.
Each warrant has an initial exercise price of US$4.77 per share, will be immediately exercisable and will have a term of approximately five years.
The common shares and warrants are immediately separable upon issuance.
The underwriters have a 45-day option to purchase up to an additional 435,900 common shares and/or warrants to purchase up to an additional 435,900 common shares at the offering price.
The offering is expected to close on or about October 15, 2021.
XORTX Therapeutics is a pharmaceutical company focused on products to treat kidney disease, COVID-19 and type 2 diabetic nephropathy.
XORTX (XRX) is down by 30.13 per cent and is currently trading at $4.15 per share as of 10:52 am ET.