InMed Pharmaceuticals Inc. 8-K

What Happened

• InMed Pharmaceuticals Inc. announced on May 18, 2026 that it entered into an amending agreement with Armistice Capital Master Fund Ltd. to change the exercise price of previously issued Armistice Preferred Investment Options.
• The exercise price was amended from $16.60 per common share to $0.80 per common share. The options allow Armistice to subscribe for up to 278,761 common shares. The amendment was announced via a press release filed May 19, 2026 (Exhibit 99.1).

Key Details

• Amendment date: May 18, 2026; press release filed May 19, 2026.
• Holder: Armistice Capital Master Fund Ltd.
• Shares subject to options: up to 278,761 common shares.
• Exercise price change: from $16.60 to $0.80 per share. If exercised in full at $0.80, the company would receive approximately $223,009 in proceeds.
• Original terms: the $16.60 figure reflected a prior 1‑for‑20 share consolidation adjustment from an original $0.83 exercise price; the amendment reduces the adjusted price to $0.80. The options were issued in private placements under Section 4(a)(2) and Regulation D.

Why It Matters

• The amendment significantly lowers the cost for Armistice to acquire the underlying shares, increasing the possibility of those options being exercised. If exercised, up to 278,761 new shares could be issued, which would increase the company’s outstanding share count (i.e., be dilutive).
• The change materially alters the economic terms of the previously reported financing arrangement between InMed and Armistice and was disclosed through an 8‑K and accompanying press release; investors should note the amended terms when evaluating potential dilution and capitalization.