Filed pursuant to Rule 424(b)(3)
Registration No. 333-226239
PROSPECTUS SUPPLEMENT NO. 4
(To
Prospectus dated August 8, 2018)
INTELLIPHARMACEUTICS INTERNATIONAL INC.
6,858,334 Common Shares
This
Prospectus Supplement No. 4 (this “Prospectus
Supplement”) amends and supplements our Prospectus dated
August 8, 2018, as supplemented by prospectus supplement no. 1,
dated August 15, 2018, as supplemented by prospectus supplement no.
2, dated September 11, 2018, and as supplemented by prospectus
supplement no. 3, dated September 13, 2018 (the
“Prospectus”), which form a part of our Registration
Statement (our “Registration Statement”) on Form F-1
(Registration No. 333-226239). This Prospectus Supplement is being
filed to amend and supplement the information included or
incorporated by reference in the Prospectus with the information
contained in this Prospectus Supplement. The Prospectus and this
Prospectus Supplement relate to the resale, from time to time, of
up to 6,858,334 common shares by certain of our shareholders
identified in the Prospectus.
This
Prospectus Supplement includes information from our Report on Form
6-K, which was filed with the Securities and Exchange Commission on
October 1, 2018.
This
Prospectus Supplement should be read in conjunction with the
Prospectus that was previously filed, except to the extent that the
information in this Prospectus Supplement updates and supersedes
the information contained in the Prospectus.
NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE
“SEC”) NOR ANY STATE SECURITIES COMMISSION OR CANADIAN
SECURITIES REGULATOR HAS APPROVED OR DISAPPROVED OF THESE
SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR
COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
_______________
The
date of this Prospectus Supplement is October 1, 2018
Intellipharmaceutics International Inc. Regains Compliance with
Nasdaq Minimum Bid Price Requirement; Also Receives Requested
Extension from Nasdaq Panel
Intellipharmaceutics
International Inc. (the “Company”) received a letter
from Nasdaq Listing Qualifications notifying the Company that it
had regained compliance with Nasdaq’s minimum bid price
requirement. The letter noted that as of September 28, 2018, the
Company evidenced a closing bid price of its common shares in
excess of the $1.00 minimum requirement for at least ten
consecutive business days. Separately, the Company received
notification from the Hearings Advisor from the Nasdaq Office of
General Counsel, informing the Company that the Nasdaq Hearings
Panel (the “Panel”) has granted its request for
continued listing through October 17, 2018 while the Company works
to regain compliance with Nasdaq’s $2.5 million
stockholders’ equity continued listing
requirement.
At a hearing held on May 17, 2018, the Company presented to the
Panel its plan to regain and maintain compliance with
Nasdaq’s continued
listing requirements. The Panel then granted the
Company’s request for
continued listing, provided that by September 28, 2018, the Company
(i) comply with Nasdaq’s $1.00 bid price requirement by
having a closing bid price of over $1.00 for ten prior consecutive
trading days, (ii) have a stockholders’ equity position of over $2.5
million and (iii) provide the Panel with updated financial
projections demonstrating its ability to maintain compliance with
the stockholders’ equity
rule for the coming year. Following receipt of shareholder approval
for a reverse stock split (known as a share consolidation under
Canadian law) at the Company’s August 15, 2018 shareholders
meeting, on September 12, 2018, the Company filed articles of
amendment to effectuate a 1-for-10 reverse split, and the
Company’s common shares began trading on each of Nasdaq and
the Toronto Stock Exchange on a post-reverse split basis on
September 14, 2018. As a result of the closing bid price of the
Company’s common shares exceeding $1.00 for the period from
September 14 to 27, 2018, the Company regained compliance with the
minimum bid price requirement. On September 29, 2018, the Company
was advised that its request that the Panel grant a further
extension through October 17, 2018 had been granted. There is no
assurance that the Company will be able to regain compliance with
the Nasdaq requirements, or if it does, that the Company will be
able to maintain such compliance.
On
October 1, 2018, the Company issued a press release announcing that
the Company regained compliance with the Nasdaq minimum bid price
requirement and that the requested extension from the Panel was
approved. A copy of the press release is included as Exhibit 99.1
to the Report on Form 6-K, which was filed with the SEC on October
1, 2018.