India, May 19 -- XORTX Therapeutics Inc. (XRTX), a late-stage clinical pharmaceutical firm focused on therapies for progressive kidney disease and gout, has launched a non-brokered private placement to raise up to USD 3 million.
The financing involves issuing up to 3,409,090 common share units at USD 0.88 per unit.
Each unit includes one common share and one purchase warrant. The warrant allows the holder to buy an additional share at USD 1.20 within 60 months of closing. However, if XORTX's Nasdaq share price exceeds USD 2.00 for 10 consecutive trading days, the warrants will expire 30 business days after the company issues notice.
XORTX may pay finder's fees on part of the offering in compliance with securities regulations and TSX Vent...