Cardiol Therapeutics Announces Closing of US$13.5 Million Public Offering of Common Shares

Core Viewpoint - Cardiol Therapeutics Inc. has successfully closed a public offering of 8,437,500 Class A common shares, raising gross proceeds of US$13.5 million to support its clinical development efforts [2][3][4]. Group 1: Offering Details - The offering was priced at US$1.60 per common share, resulting in gross proceeds of US$13.5 million before deductions [3]. - Canaccord Genuity acted as the sole bookrunner for the offering [4]. - The offering was conducted under a U.S. registration statement declared effective on July 16, 2024, and a Canadian short form base shelf prospectus dated July 12, 2024 [5]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to support the clinical development of CardiolRx for the treatment of recurrent pericarditis, as well as for general and administrative expenses and working capital [4]. 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].