Bright Minds Biosciences (US:DRUG) Globenewswire·2026-01-08 02:33Core Viewpoint - Bright Minds Biosciences Inc. has announced a public offering of 1,945,000 common shares at a price of $90.00 per share, aiming for gross proceeds of $175,050,000 to fund clinical trials and research initiatives [1][3]. Group 1: Offering Details - The public offering consists of 1,945,000 common shares priced at $90.00 each, with expected gross proceeds of $175,050,000 [1]. - The underwriters have a 30-day option to purchase an additional 291,750 common shares at the public offering price [1]. - The closing of the offering is anticipated on January 9, 2026, pending customary closing conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to fund future clinical trials for drug candidates targeting absence seizures, developmental and epileptic encephalopathies (DEE), and Prader-Willi Syndrome [3]. - The funds will also support the initiation of phase 1 clinical trials for BMB-105 and additional research and development for earlier phase programs, along with general corporate and working capital purposes [3]. Group 3: Regulatory and Compliance - The company has filed a shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (SEC), which became effective on September 2, 2025 [4]. - The offering is being conducted solely through a prospectus and a prospectus supplement that are part of the registration statement [4]. Group 4: Company Overview - Bright Minds is a biotechnology company focused on developing innovative treatments for neurological and psychiatric disorders, with a pipeline that includes novel compounds targeting key brain receptors [7]. - The company aims to deliver breakthrough therapies for conditions with high unmet medical needs, including epilepsy and depression [7][8].