Nasdaq On Horizon For Psyence Group: Psilocybin Therapeutics Division Forms New Business Combination
Portfolio Pulse from Lara Goldstein
Psyence Group Inc. and Newcourt Acquisition Corp (NASDAQ:NCAC) have announced the SEC's effectiveness of a Form F-4 registration statement for a new business combination. This move brings Psyence Group closer to listing on a U.S. national security exchange and is part of their strategy to launch a Phase 2b clinical trial for nature-derived psilocybin in palliative care. The business combination, valued at $50 million in pre-money equity, will result in Psyence contributing its therapeutics division to the new public company, Psyence Biomedical Ltd., which will trade under the Nasdaq ticker 'PBM'. Psyence Group has also granted stock options to eligible participants.
November 16, 2023 | 9:07 pm
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Newcourt Acquisition Corp (NASDAQ:NCAC) is involved in a business combination with Psyence Group Inc., which is expected to result in a new public company, Psyence Biomedical Ltd., trading under the ticker 'PBM'.
The announcement of the SEC's effectiveness of the Form F-4 registration statement is a positive step towards the completion of the business combination between NCAC and Psyence Group. This is likely to be viewed positively by investors as it progresses towards a Nasdaq listing, potentially increasing NCAC's stock price in the short term.
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