Company: EDSA
Filing Date: 2025-07-25
Form Type: S-3
Source: 0001171843-25-004721
Chunk: 20

Company: Edesa Biotech, Inc.
Filing Date: 2025-07-25
Form: S-3
Chunk 20
---
ordinated to such secured debt to the extent of the value of the assets securing such secured debt.

The debt securities will be obligations exclusively of Edesa. To the extent that our ability to service our debt, including the debt securities, may be dependent upon the earnings of our subsidiaries, our ability to do so will be dependent on the ability of our subsidiaries to distribute those earnings to us as dividends, loans or other payments.

Certain Covenants

Any covenants that may apply to a particular series of debt securities will be described in the prospectus supplement relating thereto.

Successor Obligor

The indentures provide that, unless otherwise specified in the securities resolution or supplemental indenture establishing a series of debt securities, we shall not consolidate or amalgamate with or merge into, or transfer all or substantially all of our assets to, any person in any transaction in which we are not the survivor, unless:

| · | the person is organized under the laws of the United States or Canada or a jurisdiction within the United 
 States or Canada;                                                                                         |

| · | the person assumes by supplemental indenture all of our obligations under the relevant indenture, the debt 
 securities and any coupons;                                                                                |

| · | immediately after the transaction no Default (as defined below) exists; and |

| · | we deliver to the trustee an officers’ certificate and opinion of counsel stating that the transaction 
 complies with the foregoing requirements.                                                              |

In such event, the successor will be substituted for us, and thereafter all of our obligations under the relevant indenture, the debt securities and any coupons will terminate.

Exchange of Debt Securities

Registered debt securities may be exchanged for an equal aggregate principal amount of registered debt securities of the same series and date of maturity in such authorized denominations as may be requested upon surrender of the registered debt securities at an agency of the company maintained for such purpose and upon fulfillment of all other requirements of such agent.

| 14 |

Default and Remedies

Unless the securities resolution or supplemental indenture establishing the series otherwise provides (in which event the prospectus supplement will so state), an “Event of Default” with respect to a series of debt securities will occur if:

| (1) | we default in any payment of interest on any debt securities of such series when the same becomes due and 
 payable and the default continues for a period of 30 days;                                                |

| (2) | we default in the payment of the principal and premium, if any, of any debt securities of such series when                             
 the same