Company: MDCXW
Filing Date: 2025-12-10
Form Type: DRS
Source: 0001062993-25-017281
Chunk: 3

Company: Medicus Pharma Ltd.
Filing Date: 2025-12-10
Form: DRS
Chunk 3
---
 to time in amounts, at prices and on other terms to be determined at the time of offering. We may offer and sell these securities to or through underwriters, dealers or agents, or directly to investors, on a continuous or delayed basis. The supplements to this prospectus will provide the specific terms of the plan of distribution. The price to the public of such securities and the net proceeds we expect to receive from such sale will also be set forth in a prospectus supplement.

Our common shares and public warrants, with an exercise price of $4.64 and expiration date of November 15, 2029 (the "Public Warrants") are listed on the Nasdaq Capital Market ("Nasdaq") under the symbols "MDCX" and "MDCXW", respectively. On December 9, 2025, the closing price of our common shares as reported by Nasdaq was $2.16 per share and the closing price of our Public Warrants as reported by Nasdaq was $1.02 per Public Warrant.

As of December 9, 2025, the aggregate market value of our outstanding common shares held by non-affiliates was approximately $50.1 million, which we calculated based on 25,042,045 outstanding common shares as of December 9, 2025, of which 18,571,230 shares were held by non-affiliates, and a price per share of $2.70, which was the closing price of our common shares on October 24, 2025. We have not offered or sold any securities pursuant to General Instruction I.B.6 of Form S-3 during the prior 12-calendar-month period that ends on and includes the date of this prospectus. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell, pursuant to the registration statement of which this prospectus forms a part, securities with a value exceeding one-third of the aggregate market value of our outstanding common shares held by non-affiliates in any 12-month period, so long as the aggregate market value of our outstanding common shares held by non-affiliates remains below $75.0 million.

An investment in our securities involves a high degree of risk. See "Risk Factors" on page 10 of this prospectus for more information on these risks.

Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of these securities, or passed upon the adequacy or