MindMed Prices Public Offering Of 9.29M Common Shares At $7.00 Per Share And 1.43M Pre-Funded Warrants At $6.999 Per Warrant
Portfolio Pulse from Benzinga Newsdesk
MindMed has announced the pricing of a public offering of 9.29 million common shares at $7.00 per share and 1.43 million pre-funded warrants at $6.999 per warrant, expecting to raise approximately $75 million. The funds will be used for research and development as well as general corporate purposes.
August 09, 2024 | 12:45 pm
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MindMed has priced a public offering of 9.29 million common shares at $7.00 per share and 1.43 million pre-funded warrants at $6.999 per warrant, expecting to raise $75 million. The proceeds will be used for R&D and general corporate purposes.
The public offering may lead to short-term dilution of existing shares, potentially putting downward pressure on the stock price. However, the raised funds will support R&D and corporate activities, which could be beneficial in the long term.
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