Investors rally behind Numinus Wellness in a $6M bought deal

Investors rally behind Numinus Wellness in a $6M bought deal

The financing drew support from a cohort that includes MAPS.

Numinus Wellness Inc. (OTCQX: NUMIF) entered into a agreement to raise $6 million through a bought deal with Eight Capital and a syndicate that includes Stifel GMP, the company said Thursday.

Under the terms of the agreement, the syndicate will purchase 50 million units of Numinus at a price of $0.12 per unit. The capital raise is another important step for the mental health care company, which focuses on developing psychedelic-assisted therapies.

“The participation of seasoned healthcare investors and a leading mental health research organization focused on psychedelics is a validation of the work we are doing and our cost containment success,” Numinus CEO Payton Nyquvest said in a statement.

The financing round also saw contributions from venture fund Integrated V.C. and the Multidisciplinary Association for Psychedelic Studies, a well-known nonprofit focused on psychedelic and cannabis research for therapeutic use.

In a statement, MAPS expressed support for Numinus’s “asset-light” approach to mental health treatment, particularly the company’s initiatives in clinical trials and therapist training that include experiential training with psychedelics.

“For more than half a century, therapists have expressed a desire to have the opportunity for their own psychedelic experiences as part of their training to feel better prepared to use these medicines to treat their patients,” said Rick Doblin, founder and president of MAPS.

“Given the potential demand for novel psychedelic-assisted therapy treatments, there will be a critical need for trained professionals to administer care. We see Numinus as playing a critical role in ensuring that therapists have the option to volunteer for experiential training to become fully trained on the latest medicines and their therapeutic methodologies.”

Scheduled to close around Feb. 7, 2024, the agreement involves units comprising one common share and one warrant, granting the right to purchase an additional share at $0.18 over the next 24 months. It also includes an over-allotment option, allowing the purchase of up to 15% more units, potentially increasing the total proceeds.

According to the Numinus, the proceeds from the offering are intended for working capital and general corporate purposes.

  Read More Feedzy 

Leave a Reply

Your email address will not be published. Required fields are marked *