Psyence Biomed Announces Closing of $2.0 Million Private Placement

Core Viewpoint - Psyence Biomedical Ltd. has successfully closed a private placement, raising approximately $2.0 million to support its operations and development of psilocybin-based psychedelic medicines for mental health disorders [7][8]. Company Overview - Psyence Biomedical Ltd. is the first life science biotechnology company focused on developing nature-derived psilocybin-based psychedelic medicines, listed on Nasdaq [3]. - The company aims to address unmet needs in mental health care, particularly in palliative care, through evidence-based innovation [3]. Financial Details - The private placement involved the sale of 1,000,000 common shares at a price of $2.00 per share, along with series A and series B common warrants [7]. - The gross proceeds from the offering were approximately $2.0 million, which will be used for working capital and general corporate purposes [8]. Securities Offering - The securities were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Securities Act or applicable state securities laws [13]. - The company has agreed to file a resale registration statement covering the securities as part of a registration rights agreement with investors [13].