atai Life Sciences (NASDAQ:ATAI, ETR:9VC) announced that it has closed is public offering of shares and the underwriter’s option to purchase additional shares for gross proceeds of approximately $63.25 million before deductions.
The company, a clinical-stage biopharmaceutical company focused on mental health treatments, offered about 26.2 million common shares for $2.10 per share, with the underwriter’s purchasing an additional 3.9 million shares.
atai plans to allocate the net proceeds from the offering toward general corporate purposes, including working capital and the advancement of its clinical programs and product candidates.
The funding, along with its existing cash, short-term securities, public equity holdings, and a committed term loan facility, are expected to fund the company’s operations into 2027.
Berenberg served as the sole bookrunner for the offering.