Optimi Health files for $20 million US IPO on Nasdaq

Optimi Health Corp. filed for an initial public offering in the United States, seeking to raise up to $20 million through the sale of 2.5 million common shares.

The British Columbia-based company expects to price shares between $6.00 and $8.00 each, according to its filing. Joseph Gunnar & Co., LLC will serve as underwriter for the offering.

Optimi Health has applied to list its shares on the Nasdaq Capital Market under the symbol "OPTH." The company stated it will not complete the offering if its Nasdaq application is not approved.

The company's shares currently trade on the Canadian Securities Exchange under "OPTI," Germany's Frankfurt Stock Exchange under "8BN," and on OTC Markets' OTCQX platform under "OPTHF." Trading on OTCQX will cease if the shares begin trading on Nasdaq.

As of May 15, 2024, Optimi Health's shares traded at C$9.45 on the CSE, €5.61 on the Frankfurt exchange, and $7.14 on OTCQX. These prices reflect a reverse stock split the company completed.

The offering will also include warrants to purchase up to 115,000 additional shares at 120% of the IPO price, assuming full exercise of the underwriter's over-allotment option.

Optimi Health is offering shares under both U.S. federal securities laws and Canadian securities regulations through a listed issuer financing exemption.

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