IntelGenx Technologies Corp. announced a best-efforts private placement of 2,000,000 series A convertible cumulative preferred stock at a price of $10 per stock for gross proceeds of $20,000,000 on February 14, 2024. Dividends on the Series A Preferred Stock being offered will be cumulative and payable quarterly in arrears to all holders of record on the applicable record date.

Holders of our Series A Preferred Stock will be entitled to receive cumulative dividends in the amount of $0.20 per share each quarter, which is equivalent to the annual rate of 8.00% of the $10.00 purchase price per share. At any time our Series A Preferred Stock is convertible into 20 shares of our Common Stock at the option of the holder. The company receive net proceeds of $18,260,000 in the transaction.

There is a minimum initial investment amount per investor of $750 for the security. The securities will be offered pursuant to Regulation A.