Funding The Future Of Psychedelics: Cybin Launches Renewed ATM Equity Program Up To $35M
Portfolio Pulse from Lara Goldstein
Psychedelics biotech Cybin Inc. (NYSE:CYBN) has renewed its at-the-market (ATM) equity program, allowing the company to issue and sell up to $35 million in common shares to the public. The program will be effective until all allowed shares are issued and sold or until Sept. 17, 2025. Cybin intends to use the net proceeds from these sales for growth opportunities and working capital.
August 24, 2023 | 7:49 pm
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Cybin Inc. has renewed its ATM equity program, which could lead to an increase in the number of shares in circulation and potentially dilute existing shareholders. However, the proceeds will be used for growth and working capital, which could have a positive impact on the company's future performance.
The renewal of the ATM equity program could lead to an increase in the number of Cybin's shares in circulation, which could dilute existing shareholders. However, the proceeds from the program will be used for growth opportunities and working capital, which could positively impact the company's future performance. Therefore, the short-term impact on the stock price is uncertain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100