Core Viewpoint - Bright Minds Biosciences Inc. has successfully closed a non-brokered private placement, raising a total of USD$35 million through the issuance of 1,612,902 common shares at a price of USD$21.70 per share [1][2]. Group 1: Offering Details - The private placement attracted participation from notable investors including Cormorant Asset Management, RA Capital Management, and Janus Henderson Investors, among others [2]. - Insiders, including a director of the Company, subscribed for 188,940 shares, contributing approximately USD$4.1 million to the total proceeds [3]. - All securities issued are subject to a statutory hold period of four months and one day, and no finder's fees were paid in connection with the Offering [4]. Group 2: Use of Proceeds - The Company plans to utilize the gross proceeds from the Offering for research and development related to its drug development programs and for general working capital [2]. Group 3: Company Overview - Bright Minds Biosciences is focused on developing innovative treatments for neurological and psychiatric disorders, with a pipeline that includes novel compounds targeting key receptors in the brain [7]. - The Company aims to deliver breakthrough therapies for conditions with high unmet medical needs, such as epilepsy and depression [7].
Bright Minds Biosciences Closes US$35 Million Non-Brokered Private Placement