Cybin Renews At-The-Market Equity Program For Up To $35M
Portfolio Pulse from Benzinga Newsdesk
Cybin has renewed its At-The-Market (ATM) equity program, allowing it to issue up to $35 million in shares. The program provides Cybin with the flexibility to finance future growth opportunities.
August 24, 2023 | 5:57 am
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Cybin's renewal of its ATM equity program could dilute existing shareholders but provides the company with potential capital for future growth.
The renewal of the ATM equity program allows Cybin to issue up to $35M in shares. While this could dilute the value of existing shares, it also provides the company with a source of capital that can be used to finance future growth opportunities. The impact on the stock price will depend on how investors weigh these factors.
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