Friday, October 24, 2025

Latest

Mind Medicine Raises $92.1 Million Via Bought Deal Financing

Mind Medicine (NEO: MMED) has closed its previously announced bought deal financing, raising nearly double the initial $50.0 million the company initially sought under the offering. The company managed to raise $92.1 million through the raising, bolstering its cash position to $183.0 million.

Units of the company were sold at $4.40 per share under the offering, with a total of 20.9 million units of the company sold. Each unit consists one one subordinating voting share, as well as one half of a subordinate voting share purchase warrant. Each warrant contains an exercise price of $5.75, and is valid for a period of three years from the date of issuance.

An acceleration clause is also present on the warrant, enabling the company to accelerate the expiry of the warrant should the company trade at more than $9.00 per share on a volume weighted basis for a period of five days.

Proceeds from the offering are to be used for the firms digital medicine division, investment into R&D on LSD therapy, study on LSD microdosing, development of products, as well as general working capital and corporate purposes.

Insiders reportedly subscribed to $1.3 million worth of the financing.

Mind Medicine last traded at $3.94 on the Neo Exchange.


Information for this briefing was found via Sedar and MindMed. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Canaccord Reiterates $1.75 Price Target For Mind Medicine Following Roadshow Event

This morning, Canaccord released a flash update for Mind Medicine (NEO: MMED) with highlights from...

Monday, September 28, 2020, 11:02:24 AM

Mind Medicine Returns To Trough For Further $25.0 Million

Mind Medicine (NEO: MMED) continues to take investor dollars, this morning announcing a bought deal...

Wednesday, November 25, 2020, 09:25:41 AM

Champignon Brands Vs Mind Medicine: A Comparison

Champignon Brands (CSE: SHRM), prior to the public listing of the company, had a primary...

Monday, April 20, 2020, 09:01:13 AM

Mind Medicine Prices $30 Million Offering At 30% Discount To Market

Mind Medicine (NEO: MMED) has elected to destroy shareholder value in a major way this...

Wednesday, September 28, 2022, 09:28:04 AM

Canaccord Raises Mind Medicine’s Price Target To $2.00 Following Financing

This morning, Canaccord Genuity raised its 12-month price target on Mind Medicine (NEO: MMED) from...

Monday, November 2, 2020, 10:45:02 AM