Clearmind Medicine Announces Pricing of $3.5 Million Public Offering
Israeli biotech company Clearmind Medicine Inc. (NASDAQ:CMND) announced the pricing of its US-only public offering of 4.6 million common shares and pre-funded warrants and 4.5 million common warrants for expected gross proceeds of approximately $3.5 million.
The common warrants are immediately exercisable, expire after five years and will have an exercise price of $0.78 per common share. Each common share (or pre-funded warrant) is sold together with one common warrant at a total purchase price of $0.78 yet will be issued separately. Neither common nor pre-funded warrants will be listed on any exchange.
The offering, for which Aegis Capital Corp. is acting as the exclusive placement agent, is set to close on or about April 6, 2023.
Algernon NeuroScience Qualifies For SEC's RegA+ Tier II Offering For Up To $10M
Canadian Algernon Pharmaceuticals Inc. (OTCQB:AGNPF)'s wholly-owned subsidiary Algernon NeuroScience (AGN Neuro) has qualified its Form 1-A offering statement filed with the U.S. SEC under a Tier II Regulation A+ offering and will dispose of up to 37.5% of its common shares, saving majority ownership.
Class A common shares will each cost $1, requiring a minimum investment of $1,000. Percentage of bonus shares will be issued following total investment.
The capital raised will be used for R&D and program costs of ongoing Phase 1 DMT study and Phase 2a stroke and TBI studies, the latter valued at $20 million.
The Reg A+ offering will be marketed using online and digital platforms, expected to launch during May's first week through the direct-to-market platform Issuance Inc.
Psyence Group Closes Tranche 4 Of Private Placement & Convertible Debt Note Conversion
Life sciences company Psyence Group inc. (OTCQB:PSYGF) has issued 9,043,038 common shares at a price of $0.09 (CA$0.12) each for gross proceeds of $806.602, bringing the total amount raised from the non-brokered private placement to $2.25 million.
Net proceeds will be used to advance the company's upcoming Phase 2b clinical trial in Australia on natural psilocybin for palliative care, drug development, and for general working capital.
Psyence received additional interest from prospective investors and upsized the private placement accordingly. Moreover, the aggregate proceeds quantum raised triggered the conversion of the convertible debt note, which plus accrued interest at 8% pa makes up for 11,096,604 common shares at a price of $0.09 each.
Diamond Therapeutics Gets New Investment For Accelerating Low-Dose Psychedelics Innovation
Toronto-based drug development company Diamond Therapeutics Inc. organized a strategic investment round led by early-stage drugs, therapies and devices investor First Avenue Ventures Life Science Fund I.
Proceeds will be used to support Diamond's collaboration with the University of Alabama at Birmingham (UAB) on an FDA-approved clinical trial of low-dose psilocybin to treat demoralization led by psychedelics researcher Dr. Peter Hendricks.
Diamond's founder and CEO Judith Blumstock says the work is the first of its kind, as "there are no other studies examining the effects of psychedelics on demoralization."
Photo: Benzinga edit with photo by Pexels.