Company: MDCXW
Filing Date: 2025-12-10
Form Type: DRS
Source: 0001062993-25-017281
Chunk: 39

Company: Medicus Pharma Ltd.
Filing Date: 2025-12-10
Form: DRS
Chunk 39
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 that we will be able to sell any shares or fully utilize the sales agreement with Maxim as a source of financing. Because there is no minimum offering amount required as a condition to close this offering, the net proceeds to us, if any, are not determinable at this time.

We currently intend to use the net proceeds from this offering, if any, primarily for the development of the Products and for general corporate purposes. We may also use a portion of the net proceeds to invest in or acquire businesses or technologies that we believe are complementary to our own, although we have no current plans, commitments or agreements with respect to any acquisitions as of the date of this prospectus supplement.

We have broad discretion in determining how the proceeds of this offering will be used, and our discretion is not limited by the aforementioned possible uses. Our board of directors believes the flexibility in application of the net proceeds is prudent. See the section entitled "Risk Factors-Risks Related to this Offering and to our Common Shares-Since we have broad discretion in how we use the proceeds from this offering, we may use the proceeds in ways with which you disagree."

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CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD.PURSUANT TO 17 C.F.R. SECTION 200.83

DESCRIPTION OF COMMON SHARES</div>

Pursuant to this prospectus supplement, the Company is offering approximately 7,738,013 common shares. For information relating to the material terms of the Company's common shares, please see "Description of Share Capital" contained in Exhibit 4.1 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 28, 2025.

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CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD.PURSUANT TO 17 C.F.R. SECTION 200.83

DILUTION</div>

Investors purchasing our common shares in this offering will experience immediate dilution in the net tangible book value of their common shares. Our net tangible book value as of September 30, 2025 was approximately ($0.80 million), or ($0.038) per common share. We calculate net tangible book value per common share by dividing our net tangible book value, which is total tangible assets less total liabilities, by the number of our outstanding common shares. Dilution in net tangible book value per common share