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Posted On: 07/06/2023 4:03:36 PM
Post# of 710
NetworkNewsBreaks – IGC Pharma Inc. (NYSE American: IGC) Announces $3M Common Stock Private Placement
IGC Pharma (NYSE American: IGC), a company that develops advanced cannabinoid-based formulations for treating diseases and conditions, including but not limited to Alzheimer’s disease, period cramps (dysmenorrhea), premenstrual syndrome (“PMS”) and chronic pain, has received strategic investment support. According to an announcement from the company, it has received investments from four funds managed by Bradbury Asset Management (Hong Kong) Limited, a leading asset management firm with more than $2 billion in managed assets. The announcement also noted that additional contributions were received from three unrelated investors. In total, the company has received an estimated $3 million in gross proceeds. “The funds support the advancement of the company’s phase 2 clinical trial of IGC-AD1, the company’s promising investigational drug candidate designed to address agitation in dementia caused by Alzheimer’s disease,” the announcement stated. “The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. Under the terms of the private placement, IGC will issue 10 million shares of unregistered common stock at a price of $0.30 per share. These shares are not immediately tradable, and it is important to note that the transaction does not include warrants or other derivatives.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
IGC Pharma (NYSE American: IGC), a company that develops advanced cannabinoid-based formulations for treating diseases and conditions, including but not limited to Alzheimer’s disease, period cramps (dysmenorrhea), premenstrual syndrome (“PMS”) and chronic pain, has received strategic investment support. According to an announcement from the company, it has received investments from four funds managed by Bradbury Asset Management (Hong Kong) Limited, a leading asset management firm with more than $2 billion in managed assets. The announcement also noted that additional contributions were received from three unrelated investors. In total, the company has received an estimated $3 million in gross proceeds. “The funds support the advancement of the company’s phase 2 clinical trial of IGC-AD1, the company’s promising investigational drug candidate designed to address agitation in dementia caused by Alzheimer’s disease,” the announcement stated. “The completion of the private placement is subject to customary closing conditions, including approval by the NYSE. Under the terms of the private placement, IGC will issue 10 million shares of unregistered common stock at a price of $0.30 per share. These shares are not immediately tradable, and it is important to note that the transaction does not include warrants or other derivatives.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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