Wednesday, October 8, 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

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Mind Medicine Sees CEO Sell $24.7 Million In Company Stock

It appears that uplisting to the Nasdaq is good for business. Or, at least for...

Wednesday, May 26, 2021, 10:14:37 AM

MindMed Starts Dosing Patients In Phase 1 Clinical Study On MDMA-Like Substances

Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, announced on Tuesday that the...

Wednesday, September 21, 2022, 11:23:00 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 Applies To List On The Nasdaq

Mind Medicine (NEO: MMED) this morning announced that it has submitted an application to uplist...

Monday, September 21, 2020, 07:53:31 AM

MindMed Declares US$17.0 Million Net Loss, US$105.7 Million Cash Balance For Q2 2022

Mind Medicine Inc. (NEO: MMED), more commonly known as MindMed, announced on Thursday its financial...

Friday, August 12, 2022, 08:20:03 AM