NEW YORK - Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), a biopharmaceutical company focused on brain health disorders, has announced the pricing of a significant share offering. The company is offering 16,666,667 common shares at a price of $6.00 per share. In a concurrent private placement, MindMed has agreed to sell an additional 12,500,000 shares at the same price to new investors, including Deep Track Capital and Commodore Capital.
The gross proceeds from both the underwritten offering and private placement are expected to reach approximately $175 million, before the deduction of underwriting commissions, placement agent fees, and other related expenses. The offering is anticipated to close around March 11, 2024, pending the satisfaction of customary closing conditions.
The underwritten offering has attracted a range of new investors such as Ally Bridge Group, Driehaus Capital Management, Great Point Partners, LLC, Janus Henderson Investors, Marshall Wace, Octagon Capital, Soleus Capital, Special Situations Funds, Woodline Partners LP, and a prominent biotechnology investor linked to one of the largest alternative asset managers.
Leerink Partners and Cantor Fitzgerald & Co. are acting as joint bookrunning managers for the underwritten offering and placement agents for the private placement, with RBC Capital Markets serving as the lead manager.
The common shares in this offering are available through a shelf registration statement filed with the Securities and Exchange Commission (SEC) on May 4, 2022, and declared effective on May 16, 2022. A related registration statement was filed on March 7, 2024, under Rule 462(b) and became effective upon filing. The shares in the private placement have not been registered and will be subject to certain restrictions.
The prospectus detailing the underwritten offering will be filed with the SEC and available on their website. Interested parties can obtain copies of the final prospectus supplement and accompanying prospectus from Leerink Partners or Cantor Fitzgerald & Co. once available.
MindMed specializes in developing innovative product candidates targeting neurotransmitter pathways to treat brain health disorders. The company is listed on both NASDAQ and Cboe Canada under the symbols MNMD and MMED, respectively.
This news article is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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