Defence Therapeutics Receives First Settlement Under Sharing Agreement with Sorbie Bornholm
核心洞察
Defence Therapeutics (搜索) completed a non-brokered private placement on March 6, 2026, issuing 17,445,455 units at $0.55 per unit for gross proceeds of $9,595,000.25.
Sorbie Bornholm LP (搜索) and Sorbie Investments LLP (搜索) subscribed for 10,909,091 units, contributing $6,000,000 of the total proceeds.
Under the Sharing Agreement, the Company received its first settlement of $182,623.49 on August 14, 2026, with 17 monthly settlements remaining.
Defence Therapeutics (搜索) Inc. (CSE: DTC) (OTCQB: DTCFF) (FSE: DTC), a publicly traded biotechnology and precision intracellular drug-delivery company, has provided an update on its sharing agreement dated March 6, 2026 (the "Sharing Agreement") with Sorbie Bornholm LP (搜索) ("SBLP"). The Company announced it has received the first settlement under the agreement, marking a milestone in the financing arrangement previously described in the Company's news releases of March 9 and February 27, 2026.
Private Placement Details
On March 6, 2026, Defence Therapeutics (搜索) completed a non-brokered private placement, issuing 17,445,455 units at a price of $0.55 per unit for gross proceeds of $9,595,000.25. Of the units issued under the offering, 10,909,091 units were subscribed for by SBLP and Sorbie Investments LLP (搜索), contributing gross proceeds of $6,000,000. The common shares comprised in the units (the "Placement Shares") were allotted to SBLP and Sorbie Investments LLP.
Settlement Structure and Terms
Pursuant to the Sharing Agreement, the Company is entitled to receive 18 monthly cash settlements, each determined by reference to a benchmark price of $0.7332 per common share. The amount payable to the Company under each settlement is calculated based on a volume weighted average price for the 20 trading days prior to each settlement (the "20 Day VWAP") relative to the benchmark price, subject to the maximum permitted discount to the market price at the time.
If the 20 Day VWAP falls below the benchmark price, the Company will receive less than the monthly amount of $333,333. Conversely, if the 20 Day VWAP exceeds the benchmark price, the Company will receive more than the monthly amount of $333,333. The final amount of each settlement will depend on the Company's future share price, which is subject to market fluctuations and may vary over time.
First Settlement Received
The Company has received the first settlement in the amount of $182,623.49 as of the settlement date of August 14, 2026, against 606,060 Placement Shares released to SBLP. As of the announcement date, 10,303,031 Placement Shares remain held in escrow in connection with the Sharing Agreement, with 17 settlement payments remaining.
About Defence Therapeutics
Defence Therapeutics (搜索) is a publicly traded biotechnology company committed to making cancer (搜索) treatment more effective and safer. Using its Accum precision drug-delivery platform, the Company is working to enhance the potency of antibody-drug conjugates (ADCs) and other complex biologics at lower doses, with the goal of reducing side effects and improving access to advanced therapies. Through its scientific programs and collaborations with pharma and biotech partners, Defence Therapeutics aims to bring transformative therapies to patients who need them most.