- Mind Medicine (MindMed) ( NASDAQ: MNMD ) is down 33.01% after-hours after the firm has priced its underwritten public offering of 7,058,823 common shares, together with accompanying warrants to purchase 7,058,823 common shares at combined offering price at $4.25.
- Each common share will be sold in combination with an accompanying warrant, and each warrant is exercisable to purchase one common share.
- The accompanying warrant will be immediately exercisable and has an exercise price of $4.25 per common share and expires five years from the date of issuance.
- All of the securities are being sold by MindMed.
- Gross proceeds from the offering to MindMed are expected to be ~$30M.
- Offering is expected to close on or about September 30, 2022.
- Earlier, MindMed slips 31% on proposed public offering .
For further details see:
Mind Medicine stock slides 33% on pricing 7.06M securities being re-offered at $4.25