Company: DMAC
Filing Date: 2025-08-22
Form Type: 424B2
Source: 0001437749-25-027557
Chunk: 20

Company: DiaMedica Therapeutics Inc.
Filing Date: 2025-08-22
Form: 424B2
Chunk 20
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 in this offering.

The following table illustrates this dilution on a per common share basis:

| Assumed offering price per share                                                   
 Net tangible book value per share as of June 30, 2025                              |     | 0.63 |     | 5.76 |
|:-----------------------------------------------------------------------------------|:----|-----:|:----|-----:|
| Increase in net tangible book value per share attributable to this offering        |     | 1.43 |     |      |
| As adjusted net tangible book value per share after giving effect to this offering |     |      |     | 2.06 |
| Dilution per share to new investors purchasing shares in this offering             |     |      |     | 3.70 |

The table above assumes for illustrative purposes that an aggregate of 17,361,111 common shares are sold at a price of $5.76 per share, the last reported sale price of our common shares on The Nasdaq Capital Market on August 19, 2025, for aggregate gross proceeds of $100.0 million. The common shares sold in this offering, if any, will be sold from time to time at various prices.

The number of our common shares to be outstanding after this offering is based on 43,072,488common shares outstanding as of June 30, 2025, and excludes as of that date the following:

| ● | 5,721,194 common shares reserved for issuance upon the exercise of outstanding stock options under the DiaMedica Therapeutics Inc. Amended and Restated 2019 Omnibus Incentive Plan (2019 Plan), with a weighted average exercise price of $3.74 per share; |

| ● | 164,770 common shares reserved for issuance upon the settlement of deferred share units outstanding under the 2019 Plan; |

| ● | 7,607 common shares reserved for issuance upon the settlement of restricted share units outstanding under the 2019 Plan; |

| ● | 374,410 common shares reserved for issuance upon the exercise of outstanding stock options under the DiaMedica Therapeutics Inc. Stock Option Plan (Prior Plan), with a weighted average exercise price of $4.97 per share; |

| ● | 9,745 common shares reserved for issuance upon the settlement of deferred share units outstanding under the DiaMedica Therapeutics Inc. Deferred Share Unit Plan (Prior DSU Plan); |

| ● | 590,000 common shares reserved for issuance upon the exercise