Company: EDSA
Filing Date: 2025-02-13
Form Type: 8-K
Source: 0001171843-25-000796
Chunk: 1

Company: Edesa Biotech, Inc.
Filing Date: 2025-02-13
Form: 8-K
Item: Item 1.01
Chunk 1
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 Company agreed to provide the
Investors with certain registration and other rights. Pursuant to the terms of the IRA, the Company agreed to (i) use reasonable best
efforts to file a registration statement for the resale of the Shares and Conversion Shares (together, the “Registrable Securities”)
within 30 days after the Closing Date and cause such registration statement to become effective no later than 75 days after the Closing
Date (or 120 days in the event of a full review by the Securities and Exchange Commission) and (ii) use reasonable best efforts to keep
any such registration statement continuously effective until the date that all of the Registrable Securities (X) have been sold under
such registration statement, (Y) have been sold pursuant to Rule 144, or (Z) may be sold without volume or manner-of-sale restrictions
pursuant to Rule 144 and without the requirement for the Company to be in compliance with the current public information requirement under
Rule 144. In the event that the Company fails to timely file a registration statement or comply with certain covenants in the IRA, the
Company will become subject to liquidated damages calculated as provided in the IRA.

The IRA provides that the board of directors of the Company (the “ Board
of Directors”), following the next annual general meeting of shareholders, shall consist of 7 members, one of which shall be
a director nominated by the Lead Investors (the “Lead Investor Nominee”), who shall serve on the Board of Directors
effective as of the Closing Date, until the earlier of such time as (i) the Lead Investors no longer hold at least 51% of the Common Shares
(calculated on an as-converted-to-Common Shares basis), subject to appropriate adjustment in the event of any stock dividend, stock split,
combination or other similar recapitalization with respect to the Company Shares, issued to the Lead Investors in the Private Placement
and (ii) the Lead Investors beneficially own less than 5% of the outstanding Common Shares as a result of a disposition of shares by the
Lead Investors (such period, the “Lead Investor Rights Period”). The Company also agreed to use its reasonable best
efforts to solicit shareholder approval of the Lead Investor Nominee at each general or special meeting of shareholders of the Company
at which an election of directors is held during the Lead Investor Rights Period.

Additionally, the IRA includes certain protective provisions that restrict
the Company’s ability to, among other things, (i)