New York-based psychedelic biotech company Mind Medicine has announced the underwritten offering of 16,666,667 common shares at an offering price of USD 6.00 per share, along with a concurrent private placement of 12,500,000 common shares also priced at USD 6.00 per share. The total expected gross proceeds from both transactions is about USD 175 million.
The private placement was made with new investors, including Deep Track Capital and Commodore Capital. This underwritten offering also saw participation from new investors, including Ally Bridge Group, Driehaus Capital Management, Great Point Partners, LLC, Janus Henderson Investors, Marshall Wace, Octagon Capital, Soleus Capital, Special Situations Funds, Woodline Partners LP, and a prominent biotechnology investor linked to one of the significant alternative asset management firms.
Both offerings are subject to close by March 11, 2024 subject to closing conditions.
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