Nijhawan Group Amends Edesa Biotech Stake Filing

TL;DR

Pardeep Nijhawan's group updated their Edesa Biotech filing - ownership details to follow.

AI Summary

Dr. Pardeep Nijhawan, through various entities including 1968160 Ontario Inc., Digestive Health Clinic Inc., New Nijhawan Family Trust 2015, and Pardeep Nijhawan Medicine Professional Corp., has filed an amendment (Amendment No. 6) to their Schedule 13D concerning Edesa Biotech, Inc. The filing, dated November 1, 2024, indicates a change in the reporting of beneficial ownership as of October 30, 2024. The specific details of the ownership change and the total percentage of shares held are not explicitly stated in this excerpt.

Why It Matters

This filing signals a potential shift in control or significant holdings by a major shareholder in Edesa Biotech, which could influence the company's strategic direction or stock performance.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate shifts in major shareholder influence, potentially impacting stock price and corporate strategy.

Key Players & Entities

• Edesa Biotech, Inc. (company) — Subject Company
• Dr. Pardeep Nijhawan (person) — Filing Person
• 1968160 Ontario Inc. (company) — Group Member
• Digestive Health Clinic Inc. (company) — Group Member
• New Nijhawan Family Trust 2015 (company) — Group Member
• Pardeep Nijhawan Medicine Professional Corp. (company) — Group Member

FAQ

Key Financial Figures

• $4.00 — arket purchase, at a price per share of $4.00. On October 30, 2024, the Issuer enter
• $5,000,000 — and sell in a private placement, up to $5,000,000 of shares (the “ Preferred Shares
• $10,000 — vertible Preferred Shares, stated value $10,000 per share, each of which is initially c
• $3.445 — hares ”) at a conversion price of $3.445 per Conversion Share, and warrants (the
• $10,272.13 — Shares at a combined purchase price of $10,272.13 per Preferred Share and related Warrant
• $1,540,819 — ares for an aggregate purchase price of $1,540,819. The Reporting Person will not have the

Filing Documents

• sc13da_110124.htm (SC 13D/A) — 96KB
• 0001171843-24-005965.txt ( ) — 97KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration.

is hereby supplemented as follows

Item 3 is hereby supplemented as follows: Since the filing of the Schedule 13D/A on January 16, 2024, the Issuer has granted Dr. Pardeep Nijhawan the following restricted stock units, which vested in full upon grant: (i) 2,978 restricted stock units on February 1, 2024, (ii) 2,765 restricted stock units on March 1, 2024, (iii) 3,253 restricted stock units on April 1, 2024, (iv) 3,083 restricted stock units on May 1, 2024, (v) 4,785 restricted stock units on June 3, 2024, (vi) 4,015 restricted stock units on July 2, 2024, (vii) 3,317 restricted stock units on August 1, 2024, (viii) 3,055 restricted stock units on September 3, 2024 and (ix) 3,300 restricted stock units on October 2, 2024. On March 25, 2024, Pardeep Nijhawan Medicine Professional Corporation purchased 5,000 Common Shares in an open market purchase, at a price per share of $4.00. On October 30, 2024, the Issuer entered into a Securities Purchase Agreement (the “ Purchase Agreement ”) with Pardeep Nijhawan Medicine Professional Corporation, pursuant to which the Issuer agreed to issue and sell in a private placement, up to $5,000,000 of shares (the “ Preferred Shares ”) of the Issuer’s newly designated Series A-1 Convertible Preferred Shares, stated value $10,000 per share, each of which is initially convertible into approximately 2,903 Common Shares (the “ Conversion Shares ”) at a conversion price of $3.445 per Conversion Share, and warrants (the “ Warrants ”) to purchase Common Shares (the “ Warrant Shares ”) at an exercise price of $3.445 per Warrant Share. The Preferred Shares and the Warrants were sold together in a fixed combination of one Preferred Share and a Warrant to purchase a number of Common Shares equal to 75% of the underlying Conversion Shares at a combined purchase price of $10,272.13 per Preferred Share and related Warrants. Under the Purchase Agreement, the Reporting Person has purchased 150 Preferred Shares initia

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. (a)-(b) Number of Common Shares beneficially owned: Pardeep Nijhawan Medicine Professional Corporation (1) 360,585 shares The Digestive Health Clinic Inc. 32,013 shares 1968160 Ontario Inc. 53,104 shares The New Nijhawan Family Trust 2015 (2) 48,914 shares Pardeep Nijhawan (3) 675,324 shares SCHEDULE 13D (1) Includes 16,305 Common Shares underlying vested warrants and 2,578 Common Shares underlying Preferred Shares that are deemed outstanding with respect to this Reporting Person. Excludes (i) 326,560 Common Shares underlying warrants which are subject to a 19.99% beneficial ownership blocker as described below in Item 3 and (ii) 432,836 Common Shares underlying Preferred Shares which are subject to a 19.99% beneficial ownership blocker as described in Item 3. (2) Includes 16,305 Common Shares underlying vested warrants that are deemed outstanding with respect to this Reporting Person. (3) Includes 84,973 Common Shares, 47,645 Common Shares underlying vested restricted stock units and 48,090 Common Shares underlying vested share options held directly by Dr. Pardeep Nijhawan, 341,702 Common Shares, an additional 32,610 Common Shares underlying vested warrants and 2,578 Common Shares underlying Preferred Shares that are deemed outstanding held by Pardeep Nijhawan Medicine Professional Corporation, 32,013 Common Shares held by The Digestive Health Clinic Inc., 53,104 Common Shares held by 1968160 Ontario Inc., and 32,609 Common Shares and an additional 16,305 Common Shares underlying vested warrants that are deemed outstanding held by The New Nijhawan Family Trust 2015. Excludes (i) 326,560 Common Shares underlying warrants held by Pardeep Nijhawan Medicine Professional Corporation which are subject to a 19.99% beneficial ownership blocker as described below in Item 3 and (ii) 432,836 Common Shares underlying Preferred Shares Pardeep Nijhawan Medicine Professional Corporation which are subje

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