Company: DMAC
Filing Date: 2025-08-12
Form Type: S-3
Source: 0001437749-25-026273
Chunk: 31

Company: DiaMedica Therapeutics Inc.
Filing Date: 2025-08-12
Form: S-3
Chunk 31
---
 any jurisdiction where the offer or sale is not permitted.

<div align='center'>SUBJECT TO COMPLETION, DATED AUGUST 12, 2025</div>

PROSPECTUS SUPPLEMENT

<div align='center'>$100,000,000

Common Shares</div>

We have entered into a sales agreement, dated August 12, 2025 (Sales Agreement), with TD Securities (USA) LLC (TD Cowen), relating to our common shares offered by this prospectus supplement. In accordance with the terms of the Sales Agreement, we may offer and sell our common shares having an aggregate offering price of up to $100,000,000 from time to time through TD Cowen. No common shares will be offered or sold pursuant to the Sales Agreement in Canada, to anyone known to be a resident of Canada or on or through the facilities of any exchange or trading market in Canada, and there will be no solicitations or advertising activities undertaken in Canada in connection with this offering.

Our common shares are listed on The Nasdaq Capital Market under the symbol “DMAC.” On August 11, 2025, the last reported sale price of our common shares on The Nasdaq Capital Market was $4.58 per share.

Sales of our common shares, if any, under this prospectus supplement and the accompanying prospectus will be made in negotiated transactions, including block trades or block sales, or by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 promulgated under the Securities Act of 1933, as amended (Securities Act), including without limitation sales made through The Nasdaq Capital Market or on any other trading market for our common shares, or by any other method permitted by law. TD Cowen is not required to sell any specific amount of securities, but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between TD Cowen and us. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.

The compensation to TD Cowen for sales of common shares sold pursuant to the Sales Agreement will be an amount up to 3.0% of the gross proceeds of any common shares sold under the Sales Agreement. In connection with the sale of our common shares on our behalf, TD Cowen will be deemed to be an “underwriter” within the meaning of the Securities Act and the compensation of TD Cowen will be deemed to be underwriting