PharmaTher Holdings (CSE: PHRM) this morning indicated that the company has secured a financing with institutional investors. The firm will be raising C$10.0 million via a financing conducted exclusively by H.C. Wainwright.

The financing will see the company sell a total of 15.6 million units of the company price at $0.64 per each, with each unit containing one common share and one common share purchase warrant. Each warrant, priced at $0.80 per share, is valid for a period of five years from the date of issuance.

Proceeds from the financing are to be used for the development of the firms microneedle patch, its ketamine product, and general working capital.

The financing is currently slated to close September 28, 2021.

PharmaTher Holdings last traded at $0.80 on the CSE.

Information for this briefing was found via Sedar and the companies mentioned. PharmaTher Holdings is a former client of The Deep Dive. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.