Psyence Biomed Completes $2 Million Private Placement

LOS ANGELES- Psyence Biomedical Ltd. , a biotechnology firm specializing in psilocybin-based psychedelic medicines, has finalized a private placement, securing approximately $2 million in gross proceeds.

The financing involved the issuance of 1,000,000 common shares at $2.00 per share, accompanied by series A and series B common warrants. Both warrant series are immediately exercisable at $2.00 per share; the series A warrants expire in five years, while the series B warrants have a two-year term.

H.C. Wainwright & Co. acted as the exclusive placement agent for this transaction. Psyence Biomed intends to allocate the net proceeds from this offering toward working capital and general corporate purposes.

The securities were offered under Section 4(a)(2) of the Securities Act of 1933 and Regulation D, and have not been registered under the Act or applicable state securities laws. Consequently, these securities may not be sold in the United States without registration or an applicable exemption. In line with a registration rights agreement, the company plans to file a resale registration statement covering these securities.

Psyence Biomed is recognized as the first life science biotechnology company developing nature-derived (non-synthetic) psilocybin-based psychedelic medicines to be listed on Nasdaq. The company focuses on addressing mental health disorders within palliative care, emphasizing an evidence-based approach to developing regulatory-approved psychedelic therapeutics.