Bright Minds Biosciences Announces US$35 Million Non-Brokered Private Placement

Core Viewpoint - Bright Minds Biosciences Inc. is conducting a non-brokered private placement of common shares and pre-funded warrants, aiming to raise up to USD$35 million for research and development and general working capital [1][2]. Group 1: Offering Details - The Share Offering price is set at USD$21.70 per Share, while the pre-funded warrants (PFWs) are priced at USD$21.699 each [1]. - Each PFW is exercisable into one Share at an exercise price of$0.001 per PFW Share, with a maximum exercise period of five years from the closing date [2]. - The total gross proceeds from both the Share Offering and PFW Offering combined is targeted at USD$35 million [1][2]. Group 2: Use of Proceeds - The proceeds from the Offering will be allocated towards research and development related to the company's drug development programs and for general working capital [2]. Group 3: Regulatory and Compliance Information - The securities offered have not been registered under the U.S. Securities Act and cannot be sold in the U.S. without registration or an exemption [3]. - A registration statement will be filed with the Securities and Exchange Commission after closing to register the Shares and any PFW Shares for resale under the U.S. Securities Act [4]. Group 4: Company Overview - Bright Minds Biosciences is focused on developing innovative treatments for neurological and psychiatric disorders, with a pipeline targeting conditions like epilepsy and depression [5]. - The company has developed a unique platform of highly selective serotonergic agonists, contributing to a rich portfolio of new chemical entity (NCE) programs within neurology and psychiatry [5].