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Financings

LSL PHARMA GROUP CLOSES $10M OF UPSIZED $12M BROKERED OFFERING AND ENTERS INTO DEFINITIVE AGREEMENT FOR THE ACQUISITION OF JUNO OTC

By The Northwire Desk — AI Analysis Dec 23, 2025 · 09:11 LSL · 0.35 LSL Pharma Group Inc.
LSL · Price

Executive Summary

  • LSL Pharma Group closed the initial tranche of its upsized $12 M brokered private placement, raising $10 M in gross proceeds from unsecured convertible debentures priced at $1,000 each.
  • The company entered into a definitive share purchase agreement to acquire Juno OTC Inc. for a total purchase price of $5 M, with closing expected around December 23 2025 and full operational control transferring on January 1 2026.
  • Proceeds from the offering will be allocated partly to fund the acquisition and the remainder to working capital and general corporate purposes.

Key Details

  • Offering Size & Structure: Initial tranche of $10 M closed; total upsized target $12 M (final $2 M to close on a non‑brokered basis concurrent with the acquisition).
  • Debenture Terms: Unsecured convertible debentures, $1,000 per debenture, 10.0% annual interest payable semi‑annually, maturity December 31 2029, conversion price $0.45 per common share.
  • Agent Compensation: Lead Agent and syndicate received $440,000 cash commission plus 400,000 broker warrants (exercisable at $0.45 per share for 24 months).
  • Insider Participation: Director Noureddine Mokaddem purchased 4,000 debentures for $4 M; transaction qualifies as a related‑party exemption under Regulation 61‑101.
  • Use of Proceeds: Portion allocated to fund the Juno OTC acquisition; remainder earmarked for working capital and general corporate purposes.
  • Acquisition Terms: Share purchase agreement to acquire 100% of Juno OTC Inc. from Juno Pharmaceuticals LP for $5 M cash. Closing anticipated on or about December 23 2025; seller retains operational control through Dec 31 2025, with LSL assuming full control Jan 1 2026.
  • Statutory Hold Period: All securities issued are subject to a hold period expiring four months plus one day from the offering closing date (April 24 2026).

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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