Up Front Investment of up to $20M with an optional $10M in 6-month warrants.
New York, NY – May 11, 2021 – Ortoli Rosenstadt LLP, a New York full-service international law firm, today announced that it represented Q BioMed Inc. (Nasdaq: QBIO), a biotech acceleration and commercial stage company, in a signed a securities purchase agreement (“Transaction”) with Aedesius Holdings Ltd, a privately owned United Kingdom based healthcare and technology aggregator.
The agreement gives Aedesius the opportunity to buy approximately 43% of the outstanding shares for an aggregate of $30,000,000. The Transaction is structured as an initial investment of $5,000,000 with an additional $15,000,000 by September 30, 2021 with 50% warrant coverage allowing an additional $10,000,000 investment within 180 days. The Unit Price is set at $1.25 per share, a 30% premium to today’s closing price. The investor is expected to ultimately take a seat on the Board.
Partner William Rosenstadt handled the transaction for Ortoli Rosenstadt LLP.