On May 28, 2026 Medicenna Therapeutics Corp. ("Medicenna" or the "Company") (TSX: MDNA), a clinical stage immunotherapy company focused on the development of Superkines targeting cancer and autoimmune diseases, reported the closing of its previously announced marketed public offering of units (the "Units") of the Company at a price to the public of CDN$0.50 per Unit (the "Offering"), for aggregate gross proceeds to the Company of approximately CDN$4.44 million, before deducting Offering expenses and excluding any proceeds the Company may receive from the exercise of the underlying warrants. Pursuant to the Offering, the Company issued a total of 8,880,000 Units. Each Unit is comprised of one common share and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one common share of the Company (a "Warrant Share") at an exercise price of $0.65 per Warrant Share until the date that is three years following the initial closing date of the Offering.
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The Offering was made pursuant to an agency agreement (the "Agency Agreement") entered into between Bloom Burton Securities Inc., as sole agent (the "Agent"), and the Company dated May 21, 2026. An aggregate of 450,100 compensation warrants of the Company (each, a "Broker Warrant") were issued by the Company in connection with the Agency Agreement, each Broker Warrant entitling the holder to acquire one common share of the Company at an exercise price of $0.50 per share until the date that is two years following the initial closing date of the Offering.
The Offering was made pursuant to a prospectus supplement (the "Prospectus Supplement") dated May 21, 2026 to the Company’s existing short form base shelf prospectus dated June 4, 2025 (the "Base Shelf Prospectus") filed in the Provinces of British Columbia, Alberta and Ontario. The Units may also be offered in certain other jurisdictions outside of Canada, provided that a placement therein does not give rise to any prospectus, registration or continuous disclosure obligations on the part of the Company.
The Base Shelf Prospectus, the Agency Agreement and the Prospectus Supplement are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
The securities of the Company described above have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any U.S. state securities laws and may not be offered or sold to, or for the account or benefit of, persons in the "United States" or "U.S. Persons" (as such terms are defined in Regulation S under the 1933 Act) except pursuant to an effective registration statement under the 1933 Act and applicable U.S. state securities laws or an available exemption from the registration requirements of the 1933 Act and applicable U.S. state securities laws.
In addition to the above Offering and as announced previously, the Company has entered into a separate structured financing of CDN$8.0 million with Sorbie Bornholm LP and Sorbie Investments LLP ("Sorbie").
This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
(Press release, Medicenna Therapeutics, MAY 28, 2026, View Source [SID1234666148])