Psyence Biomedical Ltd., a Nasdaq-listed biotechnology company (Nasdaq: PBM), recently finalized a private placement, raising approximately $2 million before expenses. The offering involved 1,000,000 common shares (or pre-funded warrants), along with series A and short-term series B common warrants, each allowing the purchase of up to 1,000,000 common shares. The purchase price was $2.00 per common share (or pre-funded warrant) and included accompanying series A and B warrants. Both series of warrants are immediately exercisable at $2.00 per share, with the series A warrants expiring in five years and the series B warrants expiring in two years. H.C. Wainwright & Co. served as the exclusive placement agent for this offering. Psyence Biomedical plans to utilize the net proceeds for working capital and general corporate purposes.
The securities offered were part of a private placement under Section 4(a)(2) of the Securities Act of 1933 and/or Regulation D, and are not registered under the Securities Act or applicable state securities laws. Consequently, these securities cannot be offered or sold within the United States unless registered or exempt from registration. The company will file a resale registration statement covering these securities as per a registration rights agreement with investors. This press release does not constitute an offer to sell or solicit an offer to buy these securities, and no sales will occur in any jurisdiction where such actions would be unlawful before registration or qualification under applicable securities laws.
Psyence Biomedical is pioneering the development of nature-derived psilocybin-based psychedelic medicines. Focusing initially on the unmet needs of patients with mental health disorders in palliative care settings, the company emphasizes an evidence-based approach to innovation. Its name reflects a commitment to combining scientific rigor with the therapeutic potential of psychedelics. Psyence Biomedical aims to create safe and effective, regulatory-approved, nature-derived psychedelic therapies for a wide array of mental health conditions.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
