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 liquidity, as per insider action that was reported on Mind Medicine (NEO: MMED) (NASDAQ: MNMD) last night. The company has seen its CEO, JR Rahn, sell off a significant portion of his holdings in the company.

As per filings made last night, the firms chief executive has sold off approximately $24.7 million in company stock over the course of approximately one week. Sales consisted of subordinate voting shares of the issuer, as well as the exercise of options and restricted share units.

In total, Rahn sold 6.45 million subordinate voting shares of the issuer, after having exercised a total of 1.9 million options and 727,187 restricted share units. Following the transaction, Rahn now holds 5.3 million options, 2.0 million RSU’s, and just 1.7 million subordinate voting shares.

It’s believed that on a cumulative basis, the sale represented approximately 38% of Rahn’s total position in the company once factoring in subordinates shares, options, and RSU’s.

—–
Correction: As a result of multiple voting shares, it appears that only 38% of Rahn’s position was sold, rather than the originally stated 44%.
—-

Mind Medicine last traded at $3.79 on the NEO.


Information for this briefing was found via Sedar, Sedi 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.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

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 CFO Quits Ahead Of Release Of 2021 Financial Results

It’s always a positive sign when a chief financial officer resigns the last business day...

Monday, March 28, 2022, 06:45:00 AM

Mindmed Completes 15-To-1 Reverse Split To Maintain Nasdaq Compliance

Mind Medicine (NEO: MMED) might be slightly more volatile over the next few sessions. The...

Monday, August 29, 2022, 08:21:39 AM

Psychedelics: The Eight Capital Primer

Eight Capital recently produced a primer on the psychedelic sector saying that the companies are...

Monday, June 14, 2021, 03:38:00 PM

Mind Medicine: Canaccord Maintains Ratings Following Financial Results

On Friday, November 13th, Mind Medicine (NEO: MMED) reported their third quarter 2020 financial results....

Tuesday, November 17, 2020, 10:17:00 AM