Mind Medicine Inc. (NASDAQ:MNMD) (NEO:MMED), a clinical stage biopharmaceutical company developing novel products to treat brain health disorders, announced the pricing of its underwritten public offering of 7 million common shares, together with accompanying warrants to purchase 7 million common shares. The combined offering price to the public of each common share and accompanying warrant is $4.25. Each common share will be sold in combination with an accompanying warrant, and each warrant is exercisable to purchase one common share. The accompanying warrant will be immediately exercisable and has an exercise price of $4.25 per common share and expires five years from the date of issuance.
All of the securities are being sold by MindMed. The gross proceeds from the offering to MindMed are expected to be approximately $30 million, before deducting underwriting discounts and commissions and offering expenses. The offering is expected to close on or about September 30, 2022, subject to customary closing conditions. No distribution under the underwritten public offering shall occur in Canada or to a person resident in Canada.
RBC Capital Markets and Cantor are acting as lead joint book-running managers for the offering. Oppenheimer & Co. is acting as a joint book-running manager for the offering.
Photo by Giorgio Trovato on Unsplash
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