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Financings

XORTX Therapeutics prices $1.1M (U.S.) direct offering

By The Northwire Desk — AI Analysis Oct 21, 2025 · 16:45 XRTX · 1.04 XORTX Therapeutics Inc
XRTX · Price

Executive Summary

  • XORTX Therapeutics Inc. has entered into a securities purchase agreement for a registered direct offering of common shares.
  • The company is raising gross proceeds of approximately $1.1 million USD.
  • Net proceeds will be utilized for working capital and general corporate purposes.

Key Details

  • Transaction Type: Registered Direct Offering.
  • Issuer: XORTX Therapeutics Inc.
  • Investor: An institutional investor (specific name not disclosed).
  • Shares Issued: 1,746,631 common shares (or common share equivalents in lieu thereof).
  • Purchase Price: $0.63 USD per common share.
  • Gross Proceeds: $1.1 million USD (before deducting placement agent fees and other offering expenses).
  • Use of Proceeds: Working capital and general corporate purposes.
  • Placement Agent: D. Boral Capital LLC, acting as sole placement agent.
  • Closing Date: Expected on or about October 22, 2025, subject to customary closing conditions and TSX Venture Exchange approval.
  • Regulatory Basis: Issued pursuant to an effective shelf registration statement on Form F-3 (File No. 333-269429) declared effective by the SEC on February 3, 2023. A prospectus supplement will be filed with the SEC.

Notable Quotes

  • None provided in the text.
Read the original news release →

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