Hogan Lovells Guides Mind Medicine Inc. on its US$175m Underwritten Offering of Common Shares and Concurrent Private Placement
New York, Philadelphia, 14 March 2024 – Global law firm Hogan Lovells today announced it advised clinical stage biopharmaceutical company Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), in its underwritten offering of 16,666,667 common shares, no par value per share, at an offering price of US$6.00 per common share. MindMed also consummated a concurrent private placement of 12,500,000 common shares at a price of US$6.00 per common share.
Gross proceeds to MindMed from the underwritten offering and concurrent private placement, before deducting underwriting commissions and other offering-related expenses, are expected to be approximately US$175 million.
MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. The financings were announced concurrently with MindMed’s announcement that its Phase 2b study of MM120 (lysergide d-tartrate) in generalized anxiety disorder (GAD) met its key secondary endpoint, and 12-week topline data demonstrated clinically and statistically significant durability of activity observed through Week 12, as well as the FDA granting breakthrough designation to MM120 for the treatment of GAD.
The Hogan Lovells team was led by partner Steve Abrams (Philadelphia), senior associate Kat Tyurin (New York), associate Sophie Beutel (New York), and law clerk Pablo Castiella (Philadelphia). Additional deal support was provided by senior counsel Henry Kahn (Baltimore), partner and Practice Area Lead - Pharmaceutics & Biotechnology Lynn Mehler (Washington, D.C.), partners Steven Kaufman and Jasper Howard (both Washington, D.C.), senior associates Sally Gu and Elizabeth Adams (both Washington, D.C.), and associate Gabrielle Simeck (Washington, D.C.).
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