Mind Medicine (MindMed) Inc. Announces Pricing of Public Offering
August 09 2024 - 7:44AM
Business Wire
Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (the
“Company” or “MindMed”), a clinical stage biopharmaceutical company
developing novel product candidates to treat brain health
disorders, today announced the pricing of an underwritten public
offering of 9,285,511 common shares, without par value, at a public
offering price of $7.00 per common share, and, to certain
investors, pre-funded warrants to purchase 1,428,775 common shares
at a price of $6.999 per pre-funded warrant, which represents the
per share public offering price for the common shares less the
$0.001 per share exercise price for each such pre-funded warrant.
The gross proceeds to MindMed from the offering, before deducting
underwriting discounts, commissions, and other offering-related
expenses, are expected to be approximately $75 million.
MindMed intends to use the net proceeds from this offering to
fund the research and development of its product candidates and
working capital and general corporate purposes.
Leerink Partners and Evercore ISI are acting as the joint
bookrunning managers for the offering. RBC Capital Markets and
Oppenheimer & Co. are acting as lead managers. The offering is
expected to close on or about August 12, 2024, subject to the
satisfaction of customary closing conditions. No distribution under
the offering shall occur in Canada or to a person resident in
Canada.
The securities in the offering are being offered by the Company
pursuant to an effective shelf registration statement on Form S-3
(File No. 333-280548) that was filed with the Securities and
Exchange Commission (“SEC”) on June 28, 2024 and became effective
upon filing. The securities will be offered by means of a
prospectus supplement and accompanying prospectus relating to the
offering that form a part of the shelf registration statement. A
preliminary prospectus supplement and the accompanying prospectus
relating to and describing the terms of the offering have been
filed with the SEC and SEDAR+ and are available on the SEC’s
website at www.sec.gov and on SEDAR+’s website at www.sedarplus.ca.
A final prospectus supplement and the accompanying prospectus
relating to the offering will be filed with the SEC and SEDAR+ and,
when filed, will also be available on the SEC and SEDAR+’s website.
Alternatively, copies of the final prospectus and the accompanying
prospectus relating to the offering may be obtained, when
available, by contacting the following: Leerink Partners LLC,
Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by
email at syndicate@leerink.com, or Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor,
New York, NY 10055, by telephone at (888) 474-0200, or by email at
ecm.prospectus@evercore.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About MindMed
MindMed is a clinical stage biopharmaceutical company developing
novel product candidates to treat brain health disorders. Our
mission is to be the global leader in the development and delivery
of treatments that unlock new opportunities to improve patient
outcomes. We are developing a pipeline of innovative product
candidates, with and without acute perceptual effects, targeting
neurotransmitter pathways that play key roles in brain health
disorders.
MindMed trades on NASDAQ under the symbol MNMD.
Forward-Looking Statements
Certain statements in this press release related to the Company
constitute “forward-looking information” within the meaning of
applicable securities laws and are prospective in nature.
Forward-looking information is not based on historical facts, but
rather on current expectations and projections about future events
and are therefore subject to risks and uncertainties which could
cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These
statements generally can be identified by the use of
forward-looking words such as “will”, “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe”,
“potential” or “continue”, or the negative thereof or similar
variations. Forward-looking information in this press release
includes, but is not limited to, statements regarding the filing of
the final prospectus supplement and the accompanying prospectus
relating to the offering; anticipated closing of the offering;
gross proceeds; and intended use of proceeds. There can be no
assurance that this offering will close and the Company will
receive the net proceeds therefrom. There are numerous risks and
uncertainties that could cause actual results and the Company’s
plans and objectives to differ materially from those expressed in
the forward-looking information, including satisfaction of the
customary closing conditions for the offering. These
forward-looking statements are based on our current expectations,
estimates, forecasts and projections about the offering, our
business and the industry in which we operate and management’s
beliefs and assumptions, including the satisfaction on all
customary closing conditions and the non-occurrence of the risks
and uncertainties that are described in the filings made with the
SEC and the applicable Canadian securities regulators or other
events occurring outside of our normal course of business, and are
not guarantees of future performance or development and involve
known and unknown risks, uncertainties and other factors that are
in some cases beyond our control. Except as required by law, the
Company undertakes no duty or obligation to update any
forward-looking statements contained in this release as a result of
new information, future events, changes in expectations or
otherwise.
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For Media Inquiries, please contact: media@mindmed.co
For Investor Inquiries, please contact: ir@mindmed.co
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