Clearmind Medicine Inc. Announces Pricing Of $2.4M Registered Direct And Private Placement
Portfolio Pulse from Benzinga Newsdesk
Clearmind Medicine Inc. (CMND) has announced a registered direct and private placement offering to raise approximately $2.4 million. The offering includes the sale of 1,500,000 Common Units or Pre-Funded Units, each comprising one Common Share or Pre-Funded Warrant, and one PIPE Common Warrant, with an exercise price of $1.60. The proceeds are intended for general corporate purposes and working capital. Aegis Capital Corp. is the Exclusive Placement Agent, and various legal firms are providing counsel. The offering is not available to Canadians and is expected to close around January 16, 2024.
January 11, 2024 | 2:29 pm
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Clearmind Medicine Inc. is raising funds through a direct offering and private placement, which could dilute current shareholders but also provide capital for growth and operations.
The announcement of a new stock offering typically leads to concerns about shareholder dilution, which can put downward pressure on the stock price in the short term. However, the capital raised is intended for corporate purposes and working capital, which could benefit the company's long-term growth.
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