Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), a biopharmaceutical company focused on treating brain health disorders, has announced a public offering of common shares and pre-funded warrants expected to raise approximately $75 million.
The offering includes 9,285,511 common shares priced at $7.00 each, alongside pre-funded warrants to buy 1,428,775 common shares at $6.999 each. The company plans to use the net proceeds for research and development of its product candidates, working capital, and general corporate purposes.
Joint bookrunning managers for the transaction are Leerink Partners and Evercore ISI, with RBC Capital Markets and Oppenheimer & Co. serving as lead managers. The offering, subject to customary closing conditions, is anticipated to close around Monday, August 12, 2024.
MindMed's offerings are made under a shelf registration statement filed with the Securities and Exchange Commission (SEC) on June 28, 2024, which became effective immediately. The prospectus supplement and accompanying prospectus that form part of the registration statement provide details of the offering and are available on the SEC’s website.
The company emphasizes that the securities will not be offered in Canada or to Canadian residents. Moreover, this announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful before registration or qualification under the securities laws of such state or jurisdiction.
MindMed's mission is to lead in the development and delivery of treatments designed to improve patient outcomes by targeting neurotransmitter pathways implicated in brain health disorders. The company's shares are traded on NASDAQ under the ticker symbol MNMD.
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