Devonian Health Group Inc. (DVHGF) is launching a primary U.S. offering of up to 3,070,000 Common Units and up to 3,070,000 Pre-funded Units, each unit including one common share and one five-year warrant, with an estimated public offering price between USD$6.00 and USD$8.00 per Common Unit (assumed USD$7.00).
The company expects to raise about USD$19.1 million in net proceeds (USD$22.1 million with full over-allotment), to fund a radiodermatitis prevention study, a Phase 2/3 pediatric atopic dermatitis trial, mechanism-of-action work, ramp-up of its Thykamine™ extraction facility, formulation and business development, and general working capital. The deal is a firm commitment underwriting with a 45-day 15% over-allotment option and is contingent on NYSE American listing approval for the common shares and warrants.
Devonian recently effected a 1-for-60 reverse stock split, leaving 2,765,729 common shares outstanding at the January 22, 2026 effective date, and expects 5,850,866 shares outstanding after the offering (or 6,311,366 with full over-allotment and exercise of any Pre-funded Warrants). It positions itself as an emerging growth, foreign private issuer focused on Thykamine™, a proprietary plant-derived anti-inflammatory candidate targeting pediatric atopic dermatitis, radiodermatitis, ulcerative colitis, eosinophilic esophagitis and MASH, supported by an in-house GMP extraction facility and outsourced finished-dose manufacturing.
Devonian Health Group Inc., a Canadian biopharmaceutical company focused on plant‑derived immunomodulatory therapies, is conducting a firm commitment U.S. public offering of up to 3,070,000 Common Units, each consisting of one Common Share and one five‑year Warrant, or alternatively up to 3,070,000 Pre‑funded Units with a Pre‑funded Warrant plus a Warrant. The assumed price is USD$7.00 per Common Unit within a USD$6.00–$8.00 range, and each Warrant has an exercise price equal to 125% of the public offering price.
Devonian expects net proceeds of about USD$19.1 million (or USD$22.1 million with full over‑allotment), raising its Common Shares outstanding from 2,780,866 to 5,850,866 (6,311,366 with full over‑allotment), assuming full exercise of any Pre‑funded Warrants. Funds are earmarked mainly for a radiodermatitis prevention study, a Phase 2 portion of a Phase 2/3 pediatric atopic dermatitis trial, mechanism-of-action work, ramp‑up of its Thykamine™ extraction facility, formulation and business development, with the balance for working capital. The company recently completed a 1‑for‑60 reverse split, operates a proprietary GMP‑grade extraction facility for its lead asset Thykamine™, and has Health Canada authorization to initiate a Phase II/III pediatric atopic dermatitis study.