CRDL: SEC Form SUPPL filed by Cardiol Therapeutics Inc.
Cardiol files prospectus supplement for up to US$75M at-the-market common share sales via Jefferies, dilutive to holders.
What this filing says
Cardiol Therapeutics has filed a prospectus supplement under its shelf registration to sell up to US$75,000,000 of Class A common shares through Jefferies LLC as sales agent. Shares would be sold gradually in the United States on the market, and there is no minimum amount that must be raised, so the program may raise little or nothing. For a shareholder, new shares sold would dilute existing holdings, while the proceeds could fund operations.
Key figures
- Offering size
- US$75,000,000
- Estimated fees and expenses
- US$450,000
- Agent commission
- 3% of gross proceeds
- Total shelf capacity
- US$150,000,000
- October 2024 offering net proceeds
- US$14,112,500
Positive for shareholders
- Funds could strengthen the balance sheet without a single large offering at a fixed discount.
Negative for shareholders
- New shares sold under the program would dilute existing shareholders.
- There is no minimum raise, so the offering may close with only a small portion of the amount sold or none at all.
- The agent receives a 3% commission on each sale, reducing net proceeds.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Shelf prospectus:
- A registration document that lets a company sell securities over time without filing a new offering document each time.
- At-the-market offering:
- A sale of new shares directly into the open market at prevailing prices rather than at a fixed price set in advance.
- Dilution:
- The reduction in existing shareholders' ownership percentage when new shares are issued.
FAQ
How much could Cardiol Therapeutics raise under this offering?
The offering covers up to US$75,000,000 of Class A common shares, but there is no minimum amount required, so it may raise only part of that or none.
Who is selling the shares for Cardiol Therapeutics?
Jefferies LLC acts as Cardiol's agent under an open market sale agreement dated November 3, 2026, and sales are made in the United States only through the agent.
Historical context for CRDL
Across the 25 sessions after earlier CRDL headlines, the stock closed higher 15 times and lower 9 times, with a median move of 2.5% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | CRDL | SPY |
|---|---|---|---|
| Nov 4, 2026 | Cardiol Therapeutics Announces At-The-Market Equity Offering Program With Jefferies LLC | -3.8% | +1.7% |
| Sep 23, 2026 | Cardiol Therapeutics Achieves Phase III MAVERIC Enrollment Target Ahead of Schedule and Expands Pivotal Trial to Strengthen Assessment of CardiolRx™'s Efficacy | -6.3% | -0.7% |
| Sep 16, 2026 | Cardiol Therapeutics Announces Warrant Exercise for Over USD $7 Million in Proceeds | +2.7% | -0.4% |
| Sep 11, 2026 | Cardiol Therapeutics Files US$150 Million Preliminary Base Shelf Prospectus Including Additional Disclosure Following Review by Staff of the Ontario Securities Commission | +0.8% | +0.9% |
| Sep 9, 2026 | Cardiol Therapeutics to Participate in a Fireside Chat at the H.C. Wainwright 28th Annual Global Investment Conference | +2.9% | -0.5% |
| Aug 26, 2026 | B. Riley Securities initiated coverage on Cardiol Therapeutics with a new price target | +7.0% | +0.0% |
- Market cap
- 30-day
- Sector
- Health Care
- Industry
- Biotechnology: Biological Products (No Diagnostic Substances)
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