Overview
International law firm McDermott Will & Emery represented Inhibikase Therapeutics, Inc., a clinical-stage pharmaceutical company developing protein kinase inhibitor therapeutics to modify the course of Parkinson’s disease, Parkinson’s-related disorders and other diseases, in its $10 million registered direct offering and concurrent private placements. The registered direct offering was for the issuance and sale of 6,744,187 shares of common stock (or common stock equivalents) at a purchase price of $0.86 per share to an institutional investor.
Inhibikase also closed its concurrent private placement for the issuance and sale of 4,883,721 unregistered common stock equivalents at the same purchase price as in the registered direct offering. In addition, and in connection with the offerings, Inhibikase issued unregistered warrants to purchase up to an aggregate of 11,627,908 shares of common stock. The registered direct offering and the private placements were priced at a premium to market under Nasdaq rules.
The transaction was announced on January 25, 2023 and closed on January 27, 2023.
The McDermott deal team was led by Merrill Kraines and Todd Kornfeld and included Brian Malkin, Kishan Mistry, Mike Blane and Mike Kim.
Read Inhibikase’s press release here.
About McDermott
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