XORTX Therapeutics Inc (XRTX)

[makinezmoney]

$XRTX: $XRTX will be the new SYMBOL !!!!!!


Now at $3.17



https://www.xortx.com/2021/10/13/xortx-therapeutics-announces-pricing-of-us12-million-public-offering-and-nasdaq-listing/




GO $XRTX





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XORTX Therapeutics Announces Pricing of US$12 Million Public Offering and Nasdaq Listing
CALGARY, Alberta, Oct. 13, 2021 (GLOBE NEWSWIRE) — XORTX Therapeutics Inc. (“XORTX” or the “Company”) (CSE: XRX) (OTCQB: XRTXF), a pharmaceutical therapeutics company focused on developing innovative therapies to treat progressive kidney disease, announces the pricing of an underwritten public offering of 2,906,000 units (“Units”), with each Unit consisting of one common share, no par value, and one warrant (“Warrant”) to purchase one common share at a public offering price of US$4.13 per Unit, for aggregate gross proceeds of approximately US$12 million, prior to deducting underwriting discounts and other offering expenses and excluding any exercise of the underwriters’ option to purchase any additional securities as described herein (the “Offering”). The common shares and warrants contained in the Units are immediately separable upon issuance. The warrants have an initial exercise price of US$4.77 per share, will be immediately exercisable, and will have a term of approximately five years. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 435,900 common shares and/or warrants to purchase up to an additional 435,900 common shares at the Offering price less the underwriting discounts. The Company has received conditional approval to list its common shares on the Nasdaq Capital Market (“Nasdaq”) under the symbol “XRTX” and is expected to begin trading today. The Offering is expected to close on or about October 15, 2021, subject to satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole book-running manager for the Offering.

The U.S. Securities and Exchange Commission (the “SEC”) declared effective a registration statement on Form F-1 relating to these securities on October 12, 2021. A final prospectus relating to the Offering will be filed with the SEC. The Offering is being made only by means of a prospectus. Copies of the final prospectus relating to the Offering may be obtained, when available, by contacting A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by email at [e-mail]. Investors may also obtain these documents at no cost by visiting the SEC’s website at https://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 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 jurisdiction.

About XORTX Therapeutics Inc.

XORTX Therapeutics Inc. is a pharmaceutical company with two clinically advanced products in development – XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for Coronavirus / COVID-19 infection and XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy (T2DN). XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX Therapeutics, we are dedicated to developing medications to improve the quality of life and future health of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.

For further information, please contact:
Allen Davidoff, CEO Nick Rigopulos, Director of Communications
[e-mail] or [phone] [e-mail] or [phone]
Dr. David Sans, Head of Corporate Development in New York City
[e-mail] or [phone]