COMPASS Pathways raises $125M upfront in private placement; warrants could add $160M

COMPASS Pathways plc

Issued 16.08M ADSs and warrants to purchase 16.08M ADSs at $7.78 per unit; warrant strike $9.93 (30% premium).
Transaction led by TCGX and Aisling Capital with participation from Vivo Capital, RA Capital, and others.
Net proceeds expected to extend cash runway into late 2025; funds Phase 3 TRD program and other trials.
Closing expected August 18, 2023; registration statement for resale to be filed within 30 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

COMPASS Pathways plc entered into Securities Purchase Agreement with certain institutional investors valued at approximately $125.0 million (effective 2023-08-16).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $125.0 million
Effective: 2023-08-16

Exact text from the filing

On August 16, 2023, COMPASS Pathways plc (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”), pursuant to which the Company agreed to sell and issue (i) 16,076,750 American Depositary Shares (“ADSs”) representing 16,076,750 ordinary shares and (ii) warrants to purchase up to 16,076,750 ADSs (representing 16,076,750 ordinary shares) (the “Warrants”), at a purchase price of approximately $7.78 per ADS and accompanying Warrant to purchase one ADS (the “Purchase Price”), in a private placement transaction (the “Private Placement”).

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COMPASS Pathways plc filing history →

Source: SEC EDGAR

accession 0001816590-23-000104

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