Cybin (NYSE American: CYBN) (NEO: CYBN) is a clinical-stage biopharmaceutical company committed to revolutionizing mental health care by developing new and innovative next-generation psychedelic treatment options. The company today announced a firm commitment underwritten offering of 66,666,667 units of CYBN to one of its largest existing institutional shareholders and new institutional investors at a price of US$0.45 per unit for gross proceeds of approximately US$30 million. According to the announcement, approximately US$30 million will be funded in full upon the closing of the offering, and up to an additional US$34 million may be funded upon full exercise of the warrants. A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering, which is expected to close on or about Nov. 15, 2023.
To view the full press release, visit https://ibn.fm/4iKLA
About Cybin Inc.
Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions. Cybin’s goal of revolutionizing mental health care is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, and novel formulation approaches and treatment regimens. The company is currently developing CYB003, a proprietary deuterated psilocybin analog for the treatment of major depressive disorder and CYB004, a proprietary deuterated DMT molecule for generalized anxiety disorder and has a research pipeline of investigational psychedelic-based compounds. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland.
NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://ibn.fm/CYBN
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