Summary by Moomoo AI
Cybin Inc., a biotechnology company, has successfully completed a significant private placement of common shares, raising approximately $150 million. The event, which was first announced on March 13, 2024, involved the issuance of 348,837,210 common shares at a price of $0.43 each. The private placement was closed on March 19, 2024, with Bloom Burton Securities Inc. serving as the lead agent, alongside Haywood Securities Inc. The funds raised are earmarked for Phase 3 drug development activities for CYB003, Cybin's proprietary deuterated psilocybin analog, as well as for working capital and general corporate purposes. The shares were offered in the United States under exemptions from registration requirements, and Cybin has committed to efforts that will allow for the resale of these shares to certain non-Canadian purchasers. The company's CEO, Doug Drysdale, is the point of contact for further information regarding this material change.