InMed Pharmaceuticals, a clinical stage biotech developing cannabinoid-based products, raised $8 million by offering 1.8 million shares at $4.50. The company also offered warrants to purchase 1.8 million shares of common stock at an exercise price of $4.50. At pricing, the company commands a market value of $32 million. Because the company offered warrants and its market cap is below $50 million, InMed will be excluded from Renaissance Capital's stats.
InMed Pharmaceuticals plans to list on the Nasdaq under the symbol INM. Roth Capital acted as a lead manager on the deal.
