MNMD - MindMeds Systematic Biotech Approach With New FDA Therapy Designation 12-Week Clinical Data Plus Expected $175M Proceeds | Benzinga
Shortly following the news on FDA's "breakthrough therapy" designation and the 12-week clinical durability data on its LSD therapy for generalized anxiety, psychedelics biotech MindMed (NASDAQ:MNMD) announced the pricing of an underwritten offering of 16,666,667 common shares, no par value per share, at an offering price of $6.00 each.
The company has also entered into share purchase agreements for a concurrent private placement of 12,500,000 common shares, at an individual price of $6.00. All these shares are being sold by MindMed to new investors Deep Track Capital and Commodore Capital.
Meanwhile, the underwritten offering reportedly includes participation from new investors Ally Bridge Group, Driehaus Capital Management and Great Point Partners LLC, among several others.
Leerink Partners and Cantor are acting as joint bookrunning managers for the underwritten offering and placement agents for the private placement. RBC Capital Markets is acting as lead manager for the underwritten offering and placement agent for the private placement.
Total gross proceeds, from the underwritten offering and the concurrent private placement are expected to be around $175 million. Both non-contingent ...