Cardiol Therapeutics Closes $10M Financing
Ticker: CRDL · Form: 6-K · Filed: Oct 11, 2024 · CIK: 1702123
| Field | Detail |
|---|---|
| Company | Cardiol Therapeutics INC. (CRDL) |
| Form Type | 6-K |
| Filed Date | Oct 11, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: financing, clinical-development, healthcare
TL;DR
Cardiol Therapeutics just closed a $10M CAD financing, fully funded to push their drug trials forward.
AI Summary
On October 11, 2024, Cardiol Therapeutics Inc. announced the closing of its previously announced bought-deal financing, which included the exercise of the over-allotment option. The company raised gross proceeds of approximately $10.0 million CAD from the sale of 10,000,000 units at a price of $1.00 CAD per unit. This financing is intended to support the company's ongoing clinical development programs.
Why It Matters
This capital infusion provides Cardiol Therapeutics with crucial funding to advance its clinical trials, potentially leading to the development of new treatments for cardiovascular diseases.
Risk Assessment
Risk Level: medium — While the financing provides capital, the company is still in clinical development, meaning significant regulatory and market risks remain.
Key Numbers
- $10.0M CAD — Gross Proceeds (Raised from the exercise of the over-allotment option in a bought-deal financing.)
- 10,000,000 units — Units Sold (Total number of units sold at $1.00 CAD each.)
Key Players & Entities
- Cardiol Therapeutics Inc. (company) — Registrant and issuer of securities
- October 11, 2024 (date) — Date of the news release and closing of the financing
- $10.0 million CAD (dollar_amount) — Gross proceeds raised from the financing
- 10,000,000 units (dollar_amount) — Number of units sold in the financing
- $1.00 CAD (dollar_amount) — Price per unit in the financing
- Chris Waddick (person) — Chief Financial Officer who signed the report
FAQ
What was the total amount of gross proceeds raised by Cardiol Therapeutics?
Cardiol Therapeutics raised approximately $10.0 million CAD in gross proceeds.
What was the price per unit for the securities sold?
The units were sold at a price of $1.00 CAD per unit.
What is the purpose of the funds raised?
The funds are intended to support the company's ongoing clinical development programs.
Who signed the 6-K report on behalf of Cardiol Therapeutics?
The report was signed by Chris Waddick, Chief Financial Officer.
When did the financing close?
The financing closed on October 11, 2024.
Filing Stats: 170 words · 1 min read · ~1 pages · Grade level 12.3 · Accepted 2024-10-11 14:20:23
Filing Documents
- tm2424074d8_6k.htm (6-K) — 10KB
- tm2424074d8_ex99-1.htm (EX-99.1) — 12KB
- tm2424074d8_ex99-2.htm (EX-99.2) — 36KB
- tm2424074d8_ex99-1img001.jpg (GRAPHIC) — 6KB
- tm2424074d8_ex99-1img002.jpg (GRAPHIC) — 1KB
- tm2424074d8_ex99-2img001.jpg (GRAPHIC) — 7KB
- 0001104659-24-108009.txt ( ) — 80KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CARDIOL THERAPEUTICS INC. (Registrant) Date: October 11, 2024 By: /s/ Chris Waddick Name: Chris Waddick Title: Chief Financial Officer Form 6-K Exhibit Index Exhibit Number Document Description 99.1 News Release dated October 11, 2024 – Cardiol Therapeutics Announces Exercise and Closing of Over-Allotment Option 99.2 Material Change Report, dated October 11, 2024