atai Life Sciences (NASDAQ:ATAI, ETR:9VC) announced that it has priced its registered underwritten offering of 23,725,000 company common shares at $5.48 per share, with expectations of raising about $130 million.
The clinical-stage biopharmaceutical company said it intends to use the net proceeds of the offering, together with existing cash, cash equivalents and short-term investments, to advance the clinical development of its product candidates and programs, as well as for working capital and general corporate purposes.
atai noted that it has granted the underwriters a 30-day option to purchase up to an additional 3,558,750 atai Life Sciences common shares at the public offering price, less the underwriting discount.
All common shares to be sold in the offering will be sold by atai.
The company added that Jefferies LLC is the lead bookrunner for the offering, while Berenberg Capital Markets LLC is also acting as passive bookrunner, and Oppenheimer & Co Inc and Canaccord Genuity LLC are acting as co-managers for the offering.
The offering is expected to close on October 20.