DiaMedica Announces Proposed Public Offering of Common Shares
August 05 2020 - 4:01PM
Business Wire
DiaMedica Therapeutics Inc. (Nasdaq: DMAC), a clinical-stage
biotechnology company, announced today that it intends to offer and
sell its common shares in an underwritten public offering. In
addition, DiaMedica intends to grant the underwriters a 30-day
option to purchase up to an additional 15% of the common shares
offered in the public offering. All of the common shares will be
offered by DiaMedica. The offering is subject to market conditions,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
DiaMedica intends to use the net proceeds from the offering to
continue its clinical and product development activities, including
the addition of a new cohort III to its REDUX study to be comprised
of participants with Type II diabetes mellitus with chronic kidney
disease, hypertension and albunuria, and for other working capital
and general corporate purposes.
Guggenheim Securities, LLC is acting as lead book-running
manager for the offering. Craig-Hallum Capital Group LLC is acting
as joint book-running manager.
The securities described above are being offered by DiaMedica
pursuant to a shelf registration statement on Form S-3 (File No.
333-235775) previously filed with and declared effective by the
U.S. Securities and Exchange Commission (SEC). A preliminary
prospectus supplement and accompanying prospectus relating to and
describing the terms of the offering will be filed with the SEC.
When available, copies of the preliminary prospectus supplement and
the accompanying prospectus relating to this offering may be
obtained from Guggenheim Securities, LLC Attention: Equity
Syndicate Department, 330 Madison Avenue, New York, NY 10017, by
telephone at (212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com. Electronic
copies of the preliminary prospectus supplement and accompanying
prospectus will also be available on the website of the SEC at
www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About DiaMedica Therapeutics Inc.
DiaMedica Therapeutics Inc. is a clinical stage
biopharmaceutical company focused on developing novel treatments
for chronic kidney diseases and neurological disorders. DiaMedica’s
shares are listed on The Nasdaq Capital Market under the trading
symbol “DMAC.”
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and forward-looking information that are based on the beliefs
of management and reflect management’s current expectations. When
used in this press release, the words “intend,” “believe,”
“anticipate,” “expect,” “plan,” “continue,” “will,” “may” or
“should,” the negative of these words or variations thereon or
comparable terminology and the use of future dates are intended to
identify forward-looking statements and information. The
forward-looking statements and information in this press release
include statements regarding DiaMedica’s expectations on the
completion, timing and size of the proposed offering and the
anticipated use of proceeds therefrom. Such statements and
information reflect management’s current view and DiaMedica
undertakes no obligation to update or revise any of these
statements or information. By their nature, forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Applicable risks and
uncertainties include, among others, market conditions and the
satisfaction of customary closing conditions related to the
proposed offering, as well as risks and uncertainties inherent in
DiaMedica’s business, such as those described in DiaMedica’s prior
press releases and in the periodic reports it files with the SEC,
including without limitation, the risks identified under the
heading “Risk Factors” in DiaMedica’s annual report on Form 10-K
for the fiscal year ended December 31, 2019, and subsequent SEC
filings by DiaMedica. The forward-looking information contained in
this press release represents the expectations of DiaMedica as of
the date of this press release and, accordingly, is subject to
change after such date. Readers should not place undue importance
on forward-looking information and should not rely upon this
information as of any other date. While DiaMedica may elect to, it
does not undertake to update this information at any particular
time except as required in accordance with applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20200805005987/en/
Scott Kellen Chief Financial Officer Phone: (763) 496-5118
skellen@diamedica.com
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