TORONTO and HOUSTON, May 19, 2026 (GLOBE NEWSWIRE) -- Medicenna Therapeutics Corp. ("Medicenna" or the "Company") (TSX:MDNA), a clinical-stage immunotherapy company focused on the development of Superkines targeting cancer and autoimmune diseases, announced today that it has finalized the terms of its previously-announced marketed underwritten public offering of securities of the Company, being an offering of units of the Company (the "Units") at a price to the public of $0.50 per Unit (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Common Share") and one half of one warrant of the Company (each whole warrant, a "Warrant"), each Warrant entitling the holder thereof to acquire one Common Share (a "Warrant Share") at an exercise price of $0.65 until the date that is three years following the closing date of the Offering.
Bloom Burton Securities Inc. ("Bloom Burton") is acting as sole agent for the Offering.
The Offering is expected to close on or around May 27, 2026, subject to the satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals.
The Company plans to use the net proceeds of the Offering primarily to advance the clinical and regulatory development of the Company's lead programs (including MDNA11 and MDNA113), to fund working capital and for general corporate purposes.
The Offering will be made pursuant to a prospectus supplement (the "Prospectus Supplement") to the Company's existing short form base shelf prospectus dated June 4, 2025 (the "Base Shelf Prospectus") to be filed in British Columbia, Alberta and Ontario. The Units may also be offered in certain other jurisdictions outside of Canada, provided that a placement therein does not give rise to any prospectus, registration or continuous disclosure obligations on the part of the Company.
The Base Shelf Prospectus is available under the Company's profile on SEDAR+ at www.sedarplus.ca and, upon the signing of an agency agreement between the Company and Bloom Burton, the Prospectus Supplement will be filed and available on SEDAR+ at www.sedarplus.ca.
The Common Shares comprising the Units and the Warrant Shares described above have not been and will not be registered under ...
