2023-08-01 10:31:36 ET
- Cybin ( NYSE: CYBN ) has priced its overnight marketed public offering to raise US$8.25 million, the company said Tuesday.
- The company said it is offering 24,264,706 units at US$0.34 apiece.
- The offer price represents a 15% discount to the stock's closing price of $0.40 on Monday.
- Each unit will be comprised of one common share and one common share purchase warrant.
- Each warrant will be exercisable to acquire one common share at US$0.40 per common share for a period of 60 months.
- Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.
- A.G.P./Alliance Global Partners is acting as the lead manager for the offering.
- The net proceeds will be used for the progression of the CYB003 and CYB004 programs and for general corporate and working capital purposes.
- Press Release .
- Shares -22% at 31 cents.
For further details see:
Cybin stock falls on pricing discounted stock and warrants offering