IPO - InMed Pharmaceuticals Inc.

Form Type: S-1/A

Filing Date: 2024-12-30

Corporate Action: Ipo

Type: Update

Accession Number: 000121390024113340

Filing Summary: This document is a Pre-Effective Amendment No. 1 to Form S-1 for InMed Pharmaceuticals Inc., filed with the SEC on December 30, 2024. It serves to update the registration statement under the Securities Act of 1933, specifically to file an updated opinion regarding legality and the consent of Norton Rose Fulbright Canada LLP concerning the registration statement. The filing does not include modifications to Part I or Part II of the existing registration statement. It confirms that the proposed sale of securities will commence from the effective date of the registration statement, which is pending. Relevant information was also provided regarding the registrant's classification as a smaller reporting company and an emerging growth company, and details concerning several prior registration rights agreements and other corporate governance documents are included.

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Form Type: S-1

Filing Date: 2024-12-23

Corporate Action: Ipo

Type: New

Accession Number: 000121390024111992

Filing Summary: On December 23, 2024, InMed Pharmaceuticals Inc. filed a registration statement on Form S-1 with the SEC to register up to 3,000,000 common shares for resale by a designated selling shareholder. The securities will not be sold by the company, nor will it receive proceeds from the sales. Instead, up to $10 million may be raised subject to certain limitations under the Standby Equity Purchase Agreement (SEPA) dated December 13, 2024. The shares will be sold at 97% of the market price, defined as the lowest daily volume weighted average price during a specified period. The filing indicates that InMed is an emerging growth company and a smaller reporting company, facing significant operating losses but focusing on developing its proprietary cannabinoid-based drug candidates for various diseases including Alzheimer’s, dry age-related macular degeneration (AMD), and Epidermolysis Bullosa (EB). The document includes extensive details regarding their corporate structure, principal business activities, financial risks, and ongoing operational needs, highlighting the challenges in drug development and the critical need for additional funding to fulfill growth strategies.

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