Announces Oversubscribed Private Placement of U.S. $150 Million
Summary
Cybin Inc. (NYSE American:CYBN) (Cboe CA:CYBN) (Cybin or the Company), a clinical-stage biopharmaceutical company committed to revolutionizing mental healthcare by developing new and innovative next-generation psychedelic-based treatment options, is pleased to announce a proposed private placement (the Private Placement) of 348,837,210 common shares in the capital of the Company (the Common Shares) at a price of U.S.$0.43 per Common Share representing a premium of approximately 17% to the 10-day volume weighted average trading price on the NYSE American exchange. The Private Placement is expected to close on or about March 19, 2024, subject to all necessary regulatory and stock exchange approvals, including the approval of the Cboe Canada and the NYSE American LLC.In the United States, the Common Shares will be offered on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"). 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. These statements generally can be identified by the use of forward-looking words such as may, should, could, intend, estimate, plan, anticipate, expect, believe or continue, or the negative thereof or similar variations. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.Cybin makes no medical, treatment or health benefit claims about Cybins proposed products.