Redwood AI prices $3.5M private placement with U.S. investor

Redwood AI Corp. (CSE: AIRX, OTCQB: RDWCF, Frankfurt: Y0N) has announced the pricing of a private placement offering of 1,663,000 special warrants to a single U.S. institutional investor at $2.11 per warrant, for gross proceeds of approximately $3.5 million.

Each special warrant will convert into one unit consisting of one common share and one common share purchase warrant, without additional consideration. Each warrant will entitle the holder to acquire one additional common share at $2.48 per share for a period of 60 months following the closing of the offering.

Maxim Group LLC is serving as the exclusive placement agent. The offering is expected to close on July 20, 2026, subject to approval from the Canadian Securities Exchange.

The company said it intends to use net proceeds for working capital and general corporate purposes.

If the company does not file a qualifying prospectus supplement within 90 days of closing, each special warrant will convert into 1.10 units rather than one unit. The special warrants will otherwise automatically convert on the earlier of four months and one day after closing or the date the prospectus supplement is filed.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption. The information is based on a statement from the Vancouver-based company.

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