Psyence Biomed Secures $2 Million to Advance Psychedelic Research

Psyence Biomed Secures $2 Million in Capital

Psyence Biomedical Ltd. (NASDAQ: PBM), known for its pioneering work in psychedelic medicine, recently announced a significant private placement aimed at raising $2.0 million. The funds will bolster the company’s efforts in developing nature-derived psilocybin-based therapies to address mental health disorders. This initiative underscores the growing interest and investment in the field of psychedelic research.

Details of the Private Placement

In its recent announcement, Psyence Biomed revealed that it has entered into definitive agreements for the purchase of 1,000,000 common shares, along with associated warrants. Each share is priced at $2.00, and the company will offer series A common warrants and short-term series B common warrants to further incentivize investors. These warrants not only offer potential profit for investors but also enhance Psyence's capital base to continue its vital research.

Warrants and Their Significance

The series A common warrants will allow investors to purchase shares at the same price of $2.00. They will be exercisable immediately and will expire in five years. Meanwhile, the short-term series B common warrants will also be available at the same price, but with a shorter expiration of two years. This structure is designed to attract investors looking for both short-term and long-term opportunities in the evolving market of psychedelic medicine.

Utilization of Funds

With the anticipated gross proceeds from this offering, Psyence plans to invest in working capital and various other corporate needs. This funding is crucial as the company continues to conduct research aimed at developing safe and effective therapeutic options for those battling mental health challenges.

About Psyence Biomedical Ltd.

Psyence Biomedical Ltd. (NASDAQ: PBM) stands at the forefront of the life science biotechnology industry. It is the first company listed on Nasdaq focusing on psilocybin-based psychedelic medicines. Psyence aims to create innovative treatments from natural sources, specifically targeting the rising mental health crisis. Their commitment to an evidence-based approach ensures that therapeutic developments are both safe and effective for patients in need.

Expertise and Guidance

The exclusive placement agent for this private offering is H.C. Wainwright & Co., bringing considerable expertise in capital markets to facilitate the process. Their involvement will help ensure that transition to funding is smooth and efficient, allowing Psyence to focus on what they do best—research and innovation.

Future Outlook for Psyence

As Psyence Biomed moves forward, its commitment to addressing mental health disorders with nature-derived solutions is a beacon of hope for many. With the capital secured through this placement, the company can enhance its research capabilities, ultimately leading to groundbreaking developments in treatment for diseases that currently lack effective solutions.

Contact Information

For more information about Psyence Biomed or to inquire about their offerings, you can reach out via email:

Email: ir@psyencebiomed.com
Media Inquiries: media@psyencebiomed.com
General Information: info@psyencebiomed.com
Phone: +1 416-477-1708

Frequently Asked Questions

What is the purpose of the $2 million raised?

The funds raised will support Psyence Biomed's research and development of psilocybin-based therapies for mental health disorders.

How many shares are offered in the private placement?

Psyence is offering 1,000,000 common shares in this private placement.

What types of warrants are associated with the offering?

The offering includes series A common warrants and short-term series B common warrants to purchase additional shares.

What is the expected closing date for the offering?

The private placement is anticipated to close on or about December 24, 2024, contingent upon standard closing conditions.

Who is the exclusive placement agent for this fundraising?

H.C. Wainwright & Co. is acting as the exclusive placement agent for this offering.

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