Company: EDSA
Filing Date: 2025-03-11
Form Type: 424B3
Source: 0001171843-25-001403
Chunk: 12

Company: Edesa Biotech, Inc.
Filing Date: 2025-03-11
Form: 424B3
Chunk 12
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 ownership of the securities except to the extent of their pecuniary interest 
 therein. The principal place of business of Stonepine Capital, LP is 919 NW Bond Street, Suite 204, Bend, OR 97703.                    |

| (24) |     | Includes (i) 687,500 Shares purchased in the Private Placement                                        
 and (ii) 93,750 Conversion Shares underlying the Preferred Shares purchased in the Private Placement. |

| (25) |     | David Rosen is the Managing Member of Rubric Capital Management                                                                       
 GP LLC, the general partner of Rubric Capital Management LP, and has voting and investment control over the securities held by Rubric 
 Capital Management LP.                                                                                                                |

| (26) |     | Includes (i) 687,500 Shares purchased in the Private Placement                                         
 and (ii) 354,167 Conversion Shares underlying the Preferred Shares purchased in the Private Placement. |

| (27) |     | Kevin Kotler is the Managing Member of Broadfin Holdings, LLC                                                                          
 and has voting and investment control over the securities held by Broadfin Holdings, LLC. (28)Includes 182,291 Shares purchased in the 
 Private Placement.                                                                                                                     |

Pursuant to the Investor Rights Agreement,
so long as Velan Master, Velan Horizon and Velan Opp Fund II (collectively, the “Lead Investors”) (i) beneficially own at
least 51% of the Shares and Conversion Shares (calculated on an as-converted-to-common shares basis, and subject to appropriate adjustment
in the event of any stock dividend, stock split, combination or other similar recapitalization) purchased by the Lead Investors at the
closing and (ii) do not dispose of any Shares or Conversion Shares such that the Lead Investors beneficially own less than 5% of the outstanding
Common Shares of the Company, the Lead Investors will have the right to designate a director nominee for election to our board of directors.
David Liu, who is affiliated with the Lead Investors, was designated by the Lead Investors to be appointed to the Company’s board
of directors in accordance with the terms and conditions of the Investor Rights Agreement on the Closing Date.

Additionally, the Investor Rights Agreement
includes certain protective provisions that restrict our ability to, among other things, (i) amend, modify, alter or repeal any provision
of our governing documents in a manner adverse to the holders of Preferred Shares, (ii) alter or change the special rights and restrictions
of the Preferred Shares