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

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.