Bright Minds Biosciences Inc. Announces Pricing of Public Marketed Offering of Units

Nachrichtenquelle: globenewswire
23.02.2021, 18:20  |  104   |   |   

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Bright Minds Biosciences Inc. (CSE:DRUG) (“Bright Minds” or the “Company”) announces the pricing of its previously announced underwritten marketed offering (the “Offering”) of an aggregate of 3,303,000 units of the Company (the “Units”) at a price of $7.57 per Unit for gross proceeds to the Company of approximately $25,000,000.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $9.46 for a period of 36 months from the closing date, subject to adjustment and acceleration in certain events. If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Common Shares on the Canadian Securities Exchange (the “CSE”) equals or exceeds $13.25 per Common Share for any 10 consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants to a date that is at least 30 trading days following the date of the Company issuing a press release disclosing such acceleration.

Eight Capital is acting as the lead underwriter and sole bookrunner in connection with the Offering on behalf of a syndicate of underwriters including Stifel GMP, Beacon Securities Limited and Haywood Securities Inc. (together, the “Underwriters”).

The Company has granted the Underwriters an over-allotment option, exercisable for 30 days following the closing of the Offering, to acquire up to an additional ‎495,450 Units on the same terms and conditions‎, for additional gross proceeds of up to approximately $3,750,556.

An amended and restated preliminary short form prospectus (the “A&R Preliminary Prospectus”) will be filed today with the securities regulatory authorities in each of the provinces of Canada, except Quebec, in connection with the Offering. A copy of the A&R Preliminary Prospectus, following filing thereof, will be available on SEDAR at www.sedar.com.

The Offering is expected to close on March 9, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE and the applicable securities regulatory authorities.

Seite 1 von 3


Diesen Artikel teilen


0 Kommentare

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

Bright Minds Biosciences Inc. Announces Pricing of Public Marketed Offering of Units THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. VANCOUVER, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) - …

Nachrichten des Autors

Titel
Titel
Titel
Titel