Cybin Launches 3-Day Overnight Public Offering For Up To $8.25M, Suspends Prior Purchase Deal
Portfolio Pulse from Lara Goldstein
Psychedelics company Cybin Inc. has announced an overnight marketed public offering of its units, aiming to raise $8.25 million. The company has set the price at $0.34 per unit, with each unit equating to one common share and one common share purchase warrant. The offering is expected to close on August 4, 2023. Cybin has also suspended its prior purchase agreement with Lincoln Park Capital Fund, under which it could issue common shares for up to $30 million.
August 04, 2023 | 9:47 am
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Cybin Inc. is launching a public offering to raise $8.25 million and has suspended its purchase agreement with Lincoln Park Capital Fund.
The launch of the public offering could potentially attract new investors, which may have a positive impact on the stock price. However, the suspension of the purchase agreement with Lincoln Park Capital Fund could be seen as a negative signal, potentially offsetting any positive impact. Therefore, the overall short-term impact on the stock price is uncertain.
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