MindMed Announces Pricing of Common Share Offering

Photo of author
Written By Jackson Hartwell

Mind Medicine (MindMed) Inc., a clinical-stage biopharmaceutical company specializing in novel treatments for brain health disorders, has announced the pricing of an underwritten offering of common shares. 

The offering, along with a concurrent private placement, is aimed at raising capital to support the company’s research and development efforts. This strategic financial move underscores MindMed’s commitment to advancing innovative therapies for brain health disorders.

Key Details of the Offering

MindMed has priced the underwritten offering of common shares at $6.00 per share, totaling 16,666,667 shares.

Credits: DepositPhotos

Additionally, the company has entered into share purchase agreements for a concurrent private placement of 12,500,000 common shares at the same price of $6.00 per share. 

All common shares are being sold by MindMed, with gross proceeds expected to be approximately $175 million, excluding underwriting commissions, placement agent fees, and other offering-related expenses.

Read More: Lytus Technologies Redefines Cloud Computing with Lytus Cloud

Private Placement Participants

The private placement includes participation from new investors Deep Track Capital and Commodore Capital. 

These investors are joining a group of prominent institutions, including Ally Bridge Group, Driehaus Capital Management, Great Point Partners, LLC, Janus Henderson Investors, Marshall Wace, Octagon Capital, Soleus Capital, Special Situations Funds, Woodline Partners LP, and a leading biotechnology investor associated with one of the largest alternative asset managers.

Underwriters and Placement Agents

Leerink Partners and Cantor are acting as joint book-running managers for the underwritten offering and placement agents for the private placement. 

RBC Capital Markets is serving as the lead manager for the underwritten offering and placement agent for the private placement. 

These reputable firms bring extensive experience and expertise to the offering, facilitating a smooth and efficient transaction process.

Also Read: Mind Medicine (MindMed) Inc. Announces Pricing of Underwritten Offering

Closing Details and Regulatory Compliance

It’s noteworthy that the transactions are not contingent on each other, providing flexibility in the completion timeline.

Regulatory Compliance

MindMed is ensuring compliance with regulatory requirements in its offering activities. The common shares offered under the underwritten offering are being sold pursuant to a shelf registration statement on Form S-3, previously filed with the Securities and Exchange Commission (SEC). 

Additionally, a related registration statement was filed with the SEC on March 7, 2024, under Rule 462(b) of the Securities Act of 1933. 

The company emphasizes that the private placement shares have not been registered under the Securities Act and may not be offered or sold in the United States without proper registration or exemption compliance.

Advancing MindMed’s Vision

MindMed’s successful pricing of the common share offering and concurrent private placement represents a significant milestone in the company’s growth trajectory. 

Credits: DepositPhotos

By securing substantial investment from a diverse group of investors, MindMed is well-positioned to advance its mission of developing innovative treatments for brain health disorders. 

As the company continues to make strides in its research and development efforts, investors and stakeholders alike can look forward to the potential impact of MindMed’s groundbreaking therapies on improving patient outcomes and transforming the landscape of mental health care.

Read Next: What is the Reason Behind Foot Locker’s (NYSE: FL) Downward Slide in Share Prices?


You should read and understand this disclaimer in its entirety before joining or viewing the website or email/blog list of SmallCapStocks.com (the “Publisher”). The information (collectively the “Advertisement”) disseminated by email, text or other method by the Publisher including this publication is a paid commercial advertisement and should not be relied upon for making an investment decision or any other purpose. The Publisher is engaged in the business of marketing and advertising the securities of publicly traded companies in exchange for compensation. The track record, gains, upside, and/or losses mentioned in the Advertisement, if any, should not be considered as true or accurate or be the basis for an investment. The Publisher does not verify the accuracy or completeness of any information included in the Advertisement. While the Publisher does not charge for the SMS service, standard carrier message and data rates may apply. To unsubscribe from receiving promotional text messages to your phone sent via an autodialer, using your phone reply to the sender’s phone number with the word STOP or HELP for help.

The Advertisement is not a solicitation or recommendation to buy securities of the advertised company. An offer to buy or sell securities can be made only by a disclosure document that complies with applicable securities laws and only in the states or other jurisdictions in which the security is eligible for sale. The Advertisement is not a disclosure document. The Advertisement is only a favorable snapshot of unverified information about the advertised company. An investor considering purchasing the securities, should always do so only with the assistance of his legal, tax and investment advisors. Investors should review with his or her investment advisor, tax advisor or attorney, if and to the extent available, any information concerning a potential investment at the web sites of the U.S. Securities and Exchange Commission (the "SEC") at www.sec.gov; the Financial Industry Regulatory Authority (the "FINRA") at www.FINRA.org, and relevant State Securities Administrator website and the OTC Markets website at www.otcmarkets.com. The Publisher cautions investors to read the SEC advisory to investors concerning Internet Stock Fraud at www.sec.gov/consumer/cyberfr.htm, as well as related information published by the FINRA on how to invest carefully. Investors are responsible for verifying all information in the Advertisement. As an advertiser, we do not verify any information we publish. The Advertisement should not be considered true or complete.

The Publisher does not offer investment advice or analysis, and the Publisher further urges you to consult your own independent tax, business, financial and investment advisors concerning any investment you make in securities particularly those quoted on the OTC Markets. Investing in securities is highly speculative and carries an extremely high degree of risk. You could lose your entire investment if you invest in any company mentioned in the Advertisement. You acknowledge that we are not an investment advisory service, a broker-dealer or an investment adviser and we are not qualified to act as such. You acknowledge that you will consult with your own independent, tax, financial and/or legal advisers regarding any decisions as to any company mentioned here. We have not determined if the Advertisement is accurate, correct or truthful. The Advertisement is compiled from publicly available information, which include, but are not limited to, no cost online research, magazines, newspapers, reports filed with the SEC or information furnished by way of press releases. Because all information relied upon by us in preparing an advertisement about an issuer comes from a public source, it is not reliable, and you should not assume it is accurate or complete.

By your subscription to our profiles, the viewing of this profile and/or use of our website, you have agreed and acknowledged the terms of our full disclaimer and privacy policy which can be viewed at the following link: www.SmallCapStocks.com/Disclaimer and www.SmallCapStocks.com/Privacy-Policy

By accepting the Advertisement, you agree and acknowledge that any hyperlinks to the website of (1) a client company, (2) the party issuing or preparing the information for the company, or (3) other information contained in the Advertisement is provided only for your reference and convenience. The advertiser is not responsible for the accuracy or reliability of these external sites, nor is it responsible for the content, opinions, products or other materials on external sites or information sources. If you use, act upon or make decisions in reliance on information contained in any disseminated report/release or any hyperlink, you do so at your own risk and agree to hold us, our officers, directors, shareholders, affiliates and agents harmless. You acknowledge that you are not relying on the Publisher, and we are not liable for, any actions taken by you based on any information contained in any disseminated email or hyperlink.