Grace Therapeutics, Inc. [GRCE] - equity issuance
Grace Therapeutics, Inc. issued shares at a purchase price of $2.10 per share, raising approximately $10 million in gross proceeds, with Craig-Hallum Capital Group LLC acting as the placement agent.
Why this matters
Grace Therapeutics, Inc., a pharmaceutical company focused on developing treatments for aneurysmal Subarachnoid Hemorrhage (aSAH), has issued shares in a private placement to raise approximately $10 million in gross proceeds. The company is advancing GTx-104, an injectable formulation of nimodipine for aSAH patients, which aims to improve drug delivery and patient outcomes in intensive care settings. The funds will support manufacturing and regulatory efforts, including a dual-source manufacturing strategy to address potential issues with its current contract manufacturer. The shares were issued at $2.10 each, with Craig-Hallum Capital Group LLC acting as the placement agent, and the financing is expected to close on August 6, 2026.