Company: MDCXW
Filing Date: 2025-09-29
Form Type: S-1
Source: 0001062993-25-015839
Chunk: 13

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-29
Form: S-1
Chunk 13
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 not successfully integrate Antev into our business and operations or successfully develop Teverelix."

Warrant Inducement Agreement

On July 14, 2025, we entered into a warrant inducement agreement with Armistice Capital Master Fund Ltd. ("Armistice") (the "Warrant Inducement Agreement"), pursuant to which Armistice agreed to exercise existing warrants to purchase up to 1,340,000 of the Company's common shares issued on March 10, 2025 with an exercise price of $2.80 per Common Share (the "Regulation A Warrants"), in consideration for receiving the 2,680,000 warrants to purchase common shares with an exercise price of $3.75 (the "Private Warrants"). In accordance with the Warrant Inducement Agreement, Armistice exercised its Regulation A Warrants for cash, for gross proceeds of $3,752,000 to the Company.

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Debt Financing with the Selling Shareholder

On September 17, 2025, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with the Selling Shareholder in connection with the issuance and sale by the Company of a debenture (the “Debenture”) in the principal amount of $8.0 million. The Company used a portion of the proceeds from the issuance of the Debenture to fully satisfy and discharge the approximately $1.7 million remaining outstanding balance of the $5.0 million aggregate principal amount of debentures that the Selling Shareholder purchased from the Company in May and June 2025 pursuant to a purchase agreement dated May 2, 2025. The Debenture is guaranteed by each of the Company’s subsidiaries pursuant to a global guaranty agreement (the “Guaranty”). Interest will accrue on the outstanding principal amount of the Debenture at an annual rate of 8.00%, subject to a potential increase to 18.00% per annum upon the occurrence of certain events of default. The Debenture will mature on September 17, 2026. The foregoing descriptions of the Purchase Agreement, Guaranty and Debenture do not purport to be complete and are qualified in their entirety by reference to the full text of such documents, which are filed as exhibits hereto and are incorporated herein by reference.

Other Corporate Updates

On May 22, 2025, the Company announced that it has received study may proceed