Bright Minds to Raise $35 M Via Non-Brokered Private Placement

Oct 18, 2024 (wallstreet-pr.com)- Bright Minds (NASDAQ: DRUG) stated that it agreed to a non-brokered private placement of the Company's common shares at USD$21.70 per share. Additionally, Bright Minds reserves the right to issue pre-funded warrants of the Company ("PFWs") at USD$21.699 per PFW.

The combined aggregate offering gross proceeds is for up to USD$35,000,000, less fess, which Bright Minds intends to use for research and development related to its drug development programs, and general working capital.

The Offering was executed in accordance with applicable Canadian securities laws, so the securities issued in connection with the offering are subject to a statutory hold period of four months and one day from the closing date.

MoBot alerted Bright Minds (NASDAQ: DRUG) on Monday at $1.426 and it nearly hit $60 in Tuesday's afterhours on over 100 million shares traded that day.

About Wall Street PR

Wall Street PR, a leading press release provider, has proudly served the financial community for over 20 years, providing timely and insightful market news. Our expert team delivers customized press releases that enhance visibility for businesses and investors. With an extensive distribution network and a commitment to accuracy and strategic communications, Wall Street PR ensures that your message reaches the right audience with maximum impact. When Wall Street PR writes about a company, investors pay attention.
[email protected]

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company's future and expectations other than historical facts are "forward-looking statements." These statements are made based on management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as "believes," "plans," "expects," "anticipates," "foresees," "estimated," "hopes," "if," "develops," "researching," "research," "pilot," "potential," "could" or other words or phrases of similar import. Forward-looking statements include descriptions of the Company's business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

The post Bright Minds to Raise $35 M Via Non-Brokered Private Placement appeared first on WSTPR.

COMTEX_458930048/2771/2024-10-18T10:07:56

You May Also Be Interested In

• Atlanta AI Ad Fest Announces Inaugural 2026 Festival and Awards Night
• KOS Markets Plans to Launch Trading Academy, Bringing Industry Experts and Experienced Traders to Global Financial Education
• Rovalizia Reviews: Is Rovalizia Trading Platform Worth Trying?