Edesa Biotech prices $25M public offering on Nasdaq

Edesa Biotech, Inc. (Nasdaq: EDSA) announced the pricing of an underwritten public offering expected to generate approximately $25.0 million in gross proceeds, before underwriting discounts, commissions, and other estimated expenses.

The Toronto-based clinical-stage biopharmaceutical company said the offering consists of 3,870,500 common shares with accompanying warrants to purchase an equal number of common shares, along with pre-funded warrants to purchase up to 675,000 common shares with accompanying warrants. The combined public offering price per common share and accompanying warrant is $5.50. The accompanying common share warrants carry an exercise price of $7.50 per share.

The warrants are immediately exercisable upon issuance and expire on the earlier of 18 months from the issuance date or 30 days following the company's public announcement of Phase 2 vitiligo topline data for its drug candidate EB06.

Edesa also granted underwriters a 30-day option to purchase up to an additional 681,825 common shares with accompanying warrants at the public offering price, less underwriting discounts and commissions.

The offering is expected to close on or about August 21, 2026, subject to customary closing conditions. Guggenheim Securities is acting as the sole book-running manager.

The company said it intends to use net proceeds for general corporate purposes, which may include working capital, capital expenditures, and research and development and manufacturing expenses.

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