Cardiol Therapeutics Announces Pricing of Public Offering of Common Shares

Core Viewpoint - Cardiol Therapeutics Inc. has announced the pricing of a public offering of 8,437,500 Class A common shares at a price of US$1.60 per share, aiming to raise gross proceeds of US$13.5 million before expenses [2][3]. Group 1: Offering Details - The public offering consists of 8,437,500 Class A common shares priced at US$1.60 each, with expected gross proceeds of US$13.5 million [2]. - The net proceeds will be utilized for the clinical development of CardiolRx for recurrent pericarditis, as well as for general administrative expenses and working capital [3]. - The offering is anticipated to close on or about October 10, 2024, subject to customary closing conditions [4]. Group 2: Regulatory and Documentation - The offering is conducted under a U.S. registration statement declared effective by the SEC on July 16, 2024, and an existing Canadian short form base shelf prospectus dated July 12, 2024 [5]. - A preliminary prospectus supplement has been filed with securities commissions in Canada (excluding Quebec) and with the SEC in the U.S., with a final prospectus supplement to follow [5][6]. Group 3: Company Overview - Cardiol Therapeutics Inc. is a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for heart disease [8].