Company: MDCXW
Filing Date: 2025-09-11
Form Type: DRS
Source: 0001062993-25-015568
Chunk: 224

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-11
Form: DRS
Chunk 224
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 the SEC on May 29, 2025 (the "Prior Registration Statement"), to permit the Selling Shareholder to sell common shares issued to it pursuant to the SEPA from time to time. As of the date of this prospectus, we have issued 1,890,000 common shares to the Selling Shareholder, excluding the Commitment Shares, for gross proceeds to the Company of approximately $3.7 million.

From the date on which all of the conditions to the Selling Shareholder's purchase obligation set forth in the SEPA were satisfied, we have the right, but not the obligation, from time to time, at our sole and exclusive discretion, for the 36-month period after the date of the SEPA, to direct the Selling Shareholder to purchase a specified amount of common shares, not to exceed the greater of: (1) an amount equal to the average of the daily volume traded of the common shares on the five consecutive trading days immediately preceding an Advance Notice (as defined below) and (2) such number of common shares equal to $500,000 as of the date of each Advance Notice, as described further below under the heading "-Advances of Common Shares Under the SEPA."

We will control the timing and amount of any sales of common shares to the Selling Shareholder. Actual sales of common shares to the Selling Shareholder under the SEPA will depend on a variety of factors to be determined by us from time to time, which may include, among other things, market conditions, the trading price of our common shares, and determinations by us as to the appropriate sources of funding for the Company and its operations.

At the Company's 2025 Annual and Special Meeting of Shareholders held on July 22, 2025, the Company's shareholders approved, in accordance with Nasdaq Listing Rule 5635(d), the issuance, sale and delivery by the Company pursuant to the SEPA of common shares representing 20% or more of the issued and outstanding common shares prior to such issuance at prices below the minimum price specified by Nasdaq Listing Rule 5635(d). As a result, the "Exchange Cap" limit of 19.99% of the aggregate number of common shares issued and outstanding immediately prior to the execution of the SEPA is no longer applicable. However, we may not issue or sell any common shares to the Selling Shareholder under the SEPA which, when aggregated with all other common shares then beneficially owned by the Selling Shareholder and its affiliates (as calculated pursuant