Company: MDCXW
Filing Date: 2025-12-10
Form Type: DRS
Source: 0001062993-25-017281
Chunk: 40

Company: Medicus Pharma Ltd.
Filing Date: 2025-12-10
Form: DRS
Chunk 40
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 represents the difference between the amount per common share paid by purchasers of common shares in this offering and the as adjusted net tangible book value per common share immediately after giving effect to this offering.

After giving further effect to the exercise of certain existing warrants pursuant to the Warrant Inducement Agreement and the sale by us of our common shares in the aggregate gross amount of up to $16,714,107 in this offering at an assumed offering price of $2.16 per common share, the closing price of our common shares on Nasdaq on December 9, 2025, our pro forma as adjusted net tangible book value as of September 30, 2025 would have been approximately $21.1 million, or $0.64 per common share. This represents an immediate increase in pro forma as adjusted net tangible book value of approximately $0.68 per common share to existing shareholders and results in immediate dilution in net tangible book value of approximately $1.52 per common share to investors purchasing our common shares in this offering. The following table illustrates this calculation on a per common share basis:

| Assumed public offering price per common share for this offering                                                              
 Historical net tangible book value per common share as of September 30, 2025                                                  |   | (0.04 | ) |   | 2.16 |
|:------------------------------------------------------------------------------------------------------------------------------|:--|------:|:--|:--|-----:|
| Pro forma increase per common share attributable to the pro forma adjustments                                                 | $ |  0.21 |   |   |      |
| Pro forma net tangible book value per common share after the pro forma adjustments                                            |   |       |   | $ | 0.17 |
| Increase in pro forma as adjusted net tangible book value per share after this offering                                       | $ |  0.68 |   |   |      |
| Pro forma as adjusted net tangible book value per common share as of September 30, 2025, after giving effect to this offering |   |       |   | $ | 0.64 |
| Dilution per common share to new investors                                                                                    |   |       |   | $ | 1.52 |

The foregoing table does not take into account dilution to new investors that could occur upon the exercise of outstanding options and warrants having a per share exercise price less than the assumed public offering price in this offering or common shares issued after September 30, 2025, including common shares issuable under the SEPA.