NetworkNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Announces Close on $6M Private Placement Funding
InMed Pharmaceuticals (NASDAQ: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, has closed on a private placement with two healthcare-focused institutional investors. The placement included the sale of 1,818,185 INM common shares, which were issued at a purchase price of $3.30 per share (or prefunded warrant in lieu thereof); the shares were priced at-the-market under NASDAQ rules. The announcement also noted that InMed issued unregistered preferred investment options to the investors in the offering to purchase up to 3,272,733 common shares. The offering resulted in approximately $6 million in gross proceeds for…