Company: MDCXW
Filing Date: 2025-09-29
Form Type: S-1
Source: 0001062993-25-015841
Chunk: 194

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-29
Form: S-1
Chunk 194
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 number of common shares determined according to a formula set forth in the full text of the form of warrant.

No fractional shares or scrip representing fractional shares shall be issued upon the exercise of the June 2030 Warrants. As to any fraction of a share which the holder would otherwise be entitled to purchase upon such exercise, we shall, at our election, either pay a cash adjustment in respect of such fraction in an amount equal to such fraction multiplied by the exercise price of the June 2030 Warrants or round the number of shares to be received by the holder up to the next whole number.

The June 2030 Warrants contain a contractual provision stating that all questions concerning the construction, validity, enforcement and interpretation of the warrants are governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law.

This summary of the June 2030 Warrants is not complete, and is qualified in its entirety by, the full text of the form of May 2025 Unit Offering Warrant and the Warrant Agency Agreement in respect of the May 2025 Unit Offering Warrants, copies of which have been filed with the SEC as exhibits to this prospectus and incorporated in this prospectus by reference.

Private Warrants

As of September 22, 2025, we had 2,680,000 Private Warrants outstanding in two series, each containing 1,340,000 Private Warrants. Each Private Warrant is exercisable for one common share at an exercise price of $3.75 per share. The Private Warrants were issued on July 14, 2025 in connection with the Warrant Inducement Agreement and are exercisable at any time up for a period of five years following the date of issuance, expiring on or prior to 5:00 pm ET on July 15, 2030. In addition, one of the series of Private Warrants contains a right for the Company to force the Holder to exercise such New Warrants, subject to certain conditions described in the New Warrants, in the event that the average VWAP (as defined in the Private Warrants) of the Common Shares during any ten (10) Trading Day (as defined in the Private Warrants) period shall equal or exceed $10.00.

The number of Private Warrants outstanding, and the exercise price of those securities, will be adjusted proportionately in the event of a consolidation or share split of our common shares, a recap