Spectral Medical Inc. filed base shelf prospectus for up to $100 million in securities

Spectral Medical Inc. has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in Canada, except Québec, to qualify the distribution of up to $100 million of common shares, debt securities, subscription receipts, warrants, and units. CEO Chris Seto stated that the filing is to prepare for upcoming milestones and catalysts, not an immediate capital raise. No securities can be sold until a receipt for the Base Shelf Prospectus is obtained. Spectral is a Phase 3 company seeking U.S. FDA approval for Toraymyxin™ (“PMX”) to treat septic shock, a condition affecting about 330,000 patients in North America annually.

Read more at GlobeNewswire: Spectral Medical Inc. Announces Filing of Base Shelf