- Cybin’s latest offering generated exceptional demand; announces upsize of “bought deal” offering
- Burgeoning psychedelic sector attracts investors’ attention as compound may prove effective in mental health treatments.
- Cybin appears set for rapid growth as research accelerates, public acceptance grows.
Cybin (NEO: CYBN) (OTCQB: CLXPF), a biotech company focused on psychedelic therapeutics for various psychiatric and neurological conditions, has announced that it has upsized the terms of its “bought deal” offering due to strong demand. The deal size, previously announced at CDN$20,025,000, has increased to aggregate gross proceeds of CDN$30,015,000 as the underwriters have agreed to purchase 13,340,000 units of the company at CDN$2.25 per unit. Cybin intends to use the net proceeds to further develop its clinical trials, novel molecule programs and technologies enhancing the patient experience as well as for working capital and general corporate purposes.
The announced upsize comes against the backdrop of a growing demand for psychedelic companies. The burgeoning sector is attracting increasing attention from investors with more companies going public and rapidly increased research sparking greater public acceptance and…
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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