Compass Pathways: debt deal secured, cash runway extended
[Compass Pathways; synthetic-psilocybin patenting British bio-tech company]… a securities purchase agreement with a select group of healthcare specialist investors for the private placement of… American Depositary Shares… Morgan Stanley and TD Cowen are acting as the placement agents for the private placement. The securities to be sold in the private placement, including the ADSs underlying the Warrants, have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States…
COMPASS will receive approximately $125 million in gross proceeds, before deducting placement agent commissions and offering expenses, from the private placement of ADSs and accompanying Warrants, and up to an additional approximately $160 million in gross proceeds if the Warrants are fully exercised for cash. The Warrants will be exercisable at the election of the investors for a three-year period. The company said the proceeds from this financing, combined with current cash and cash equivalents, are expected to be sufficient to fund the current operating plan into late 2025. [MAPS [PBC] trademark filing… “Pharmaceutical preparations; Psychotherapeutic preparations; Pharmaceutical preparations for the treatment and management of psychiatric, psychological, and neurological disorders; Therapeutic agents for treating and managing PTSD, eating disorders, postpartum depression, alcohol use disorder, opioid and substance use disorder, generalized anxiety disorder, social anxiety disorder, major depressive disorder, and traumatic brain injury; Medicaments to help assist with treatment and management of psychiatric, psychological, and neurological disorders”]
Original Article (Yahoo Finance & Seeking Alpha/MSM & Market Watch & Edelic Archives):
COMPASS Pathways announces up to $285 million private placement financing joined by leading healthcare investors & Compass Pathways: debt deal secured, cash runway extended & Compass Pathways shares rise 11% after private placement & 1
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