MYND Life Sciences Announces Shares for Debt Transaction
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MYND Life Sciences Inc. has announced a shares for debt transaction to settle $2.27 million of its outstanding debt by issuing 22.73 million common shares at $0.10 per share.
February 12, 2025 | 1:00 am
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MYND Life Sciences is issuing 22.73 million shares to settle $2.27 million of debt, potentially diluting existing shareholders but improving the company's balance sheet.
The issuance of new shares to settle debt will dilute existing shareholders' equity, which typically exerts downward pressure on the stock price. However, the transaction improves the company's financial position by reducing debt.
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