Mind Medicine (MindMed) Priced Underwritten Offering of $175M Common Shares and Concurrent Private Placement at $6/Share
Portfolio Pulse from Benzinga Newsdesk
Mind Medicine (MindMed) Inc. announced the pricing of an underwritten offering of 16,666,667 common shares and a concurrent private placement of 12,500,000 common shares, both priced at $6.00 per share, aiming to raise approximately $175 million in gross proceeds. This capital raise is intended for the development of novel product candidates to treat brain health disorders.
March 07, 2024 | 12:17 pm
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MindMed's capital raise through an underwritten offering and private placement at $6/share aims to fund the development of treatments for brain health disorders, raising approximately $175 million.
The capital raise is a significant move for MindMed, indicating a strong commitment to advancing its pipeline of treatments for brain health disorders. The successful raise of approximately $175 million provides the financial resources needed for continued research and development. This news is likely to be viewed positively by investors, as it demonstrates the company's ability to secure funding and its potential for future growth.
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