Bright Minds to Raise $35 M Via Non-Brokered Private Placement

October 18, 2024

DENVER, Colo., Oct 18, 2024 (247marketnews.com)- Bright Minds (NASDAQ: DRUG) stated that it agreed to a non-brokered private placement of the Company’s common shares at USD$21.70 per share. Additionally, Bright Minds reserves the right to issue pre-funded warrants of the Company (“PFWs”) at USD$21.699 per PFW.

The combined aggregate offering gross proceeds is for up to USD$35,000,000, less fess, which Bright Minds intends to use for research and development related to its drug development programs, and general working capital.

The Offering was executed in accordance with applicable Canadian securities laws, so the securities issued in connection with the offering are subject to a statutory hold period of four months and one day from the closing date.

MoBot alerted Bright Minds (NASDAQ: DRUG) on Monday at $1.426 and it nearly hit $60 in Tuesday’s afterhours on over 100 million shares traded that day.

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