Cynapsus Therapeutics (OTCQX:CYNAF; TSX-V:CTH) has filed a preliminary short-form prospectus with securities agencies in the provinces of British Columbia, Alberta and Ontario for a best-efforts offering of common shares and warrants for gross proceeds of $15-million to $25-million.
The final pricing and the number of common shares and warrants to be sold will occur immediately prior to filing a final prospectus.
Net proceeds will be used to finance R&D for the company’s APL-130277 Parkinson’s disease drug candidate, and for general working capital purposes.
The company has retained M Partners to lead the offering. The first closing of the offering is expected to occur on April 18.
