Current Report Filing (8-k)
March 22 2022 - 06:06AM
Edgar (US Regulatory)
0001728328
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A1
CA
0001728328
2022-03-21
2022-03-21
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xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d)
of
the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 21, 2022
INMED
PHARMACEUTICALS INC.
(Exact
Name of Company as Specified in Charter)
British
Columbia |
|
001-39685 |
|
98-1428279 |
(State
or Other Jurisdiction
of
Incorporation) |
|
(Commission File
Number) |
|
(IRS
Employer
Identification
No.) |
InMed
Pharmaceuticals Inc. |
|
|
Suite
310 - 815 W. Hastings Street, |
|
|
Vancouver,
B.C. |
|
|
Canada |
|
V6C
1B4 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
Company’s
telephone number, including area code: (604) 669-7207
Not
applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on
which registered |
Common
Shares, no par value |
|
INM |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
1.01 Entry into a Material Definitive Agreement.
Item
3.03 Material Modification to Rights of Security Holders.
On
March 21, 2022, InMed Pharmaceuticals Inc. (the “Company”) entered into an amendment to (i) the Securities Purchase Agreement,
dated as of February 5, 2021, by and among the Company and the purchasers signatory thereto (the “Purchasers”) pursuant to
which the Company issued, among other securities, the Warrants (as defined below) (the “Purchase Agreement”) and (ii) the
Common Stock Purchase Warrant issued February 11, 2021, by the Company to the Purchasers.
The Common Stock Purchase Warrants of the Company
issued pursuant to the Purchase Agreement previously had an expiration date of August 11, 2026 and exercise price of $4.85 per share (the
“Warrants”). There are 693,000 common shares of the Company issuable upon exercise of the Warrants. The Warrants were amended
to (i) reduce the exercise price to $0.45 per share, (ii) shorten the expiration date to March 31, 2023, and (iii) allow cashless exercise.
The
Purchase Agreement was also amended to allow variable rate transactions, including at the market offerings, by the Company.
The
above description of the amendment is qualified in its entirety to the form of amendment attached as Exhibit 10.1 hereto.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits:
The
following exhibit shall be deemed to be furnished, and not filed:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
INMED PHARMACEUTICALS
INC. |
|
|
|
Date: March 22, 2022 |
By: |
/s/
Eric A. Adams |
|
|
Eric A. Adams |
|
|
President and Chief Executive
Officer |
3
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