Clearmind Medicine (CSE:CMND) closes US$7.5 million public offering

Clearmind Medicine (CMND) has closed an underwritten public offering of 1,153,847 common sharesThe company issued shares priced at US$6.50 for gross proceeds of US$7.5 millionIn addition, the company has granted Aegis Capital Corp. a 45-day option to purchase up to 173,077 additional common sharesClearmind Medicine Inc. is a psychedelic pharmaceutical biotech company Clearmind Medicine Inc. was up 2.30 per cent, trading at $7.11 at 11:46 ET

Clearmind Medicine (CMND) has closed its underwritten public offering of 1,153,847 common shares.

The company offered the shares to the public at a price of US$6.50 per share (C$8.65).

Aggregate gross proceeds of US$7.5 million were realized prior to deducting underwriting discounts and offering expenses.

The closing occurs following a 1-for-30 reverse stock split, which was effective at 5:30 p.m. on September 30, 2022.

In addition, the company has granted Aegis Capital Corp. a 45-day option to purchase up to 173,077 additional common shares, equal to 15 per cent of the number of shares sold in the offering, to cover over-allotments.

The public purchase price per additional common share will be US$6.50 per share (C$8.65).

If Aegis exercises the option in full for common shares, the total gross proceeds of the offering – including the over-allotment – are expected to be approximately US$8.6 million before deducting underwriting discounts and commissions and offering expenses.

All securities sold as part of the offering may not be sold, transferred, hypothecated or otherwise traded on or through facilities of the Canadian Securities Exchange or otherwise in Canada or for the benefit of a Canadian resident until March 18, 2023.

Clearmind Medicine Inc. is a psychedelic pharmaceutical biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve widespread and under-served health problems, including alcohol use disorder.

Clearmind Medicine Inc. was up 2.30 per cent, trading at $7.11 at 11:46 ET.

The post Clearmind Medicine (CSE:CMND) closes US$7.5 million public offering appeared first on The Market Herald.

Powered by WPeMatico

Canadian Stock Trader

Stock Trading Gold Stocks Marijuana Stocks Oil Stocks Penny Stocks Tech Stocks Business News Day Trading Canadian Stock Trader TSE TSXV American Stocks Canadian Stocks Canadian Stock Trader Canadian Stock Market All the latest Business News. Special coverage of Gold Stocks, Marijuana Stocks, Oil Stocks, Option Trading, Penny Stocks,Stock Trading Technics and Tech Stocks….