Overview

BetterLife, a junior Canadian biotech company, issued 447 million common shares (at Cdn.$0.25 per share) and 108 million pre-funded warrants (at Cdn.$0.24999 per warrant) pursuant to a short-form prospectus. Each pre-funded warrant was exercisable at a nominal exercise price of Cdn.$0.00001 per share (for an aggregate of about Cdn.$4,500). They can (and likely will) be exercised on a “net” or “cashless” basis, with delivery of the exercise notice resulting in their cancellation.