Cybin Completes $34 Million Bought Deal Offering
On February 4, 2021, Cybin Inc. (NEO: CYBN) (the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, completed a bought deal short form prospectus offering. In connection with the offering, the Company issued 15,246,000 units (“Units”) at a price of $2.25 per Unit for aggregate gross proceeds of $34,303,500. Each Unit consisted of one common share and one half of one common share purchase warrant of the Company.
Cybin intends to use the net proceeds from the offering to advance its clinical trials, novel molecule programs and technologies surrounding the patient experience, and for working capital and general corporate purposes.
Aird & Berlis acted for Cybin with a team that included Sherri Altshuler, Melanie Cole, Danny Kharazmi, Russell Sanders, Sean Green and Meredith McCann (Capital Markets/M&A) and Barbara Worndl (Tax).