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Investing.com -- Cybin Inc. (NYSE American:CYBN) stock surged 18% after the clinical stage neuropsychiatry company announced a $175 million registered direct offering of common shares and pre-funded warrants priced at $6.51 per unit.
The financing deal, expected to close on October 31, 2025, attracted participation from prominent biotech investors including Venrock Healthcare Capital Partners, OrbiMed, Point72, and Deep Track Capital. Each common share and pre-funded warrant comes with 0.35 of a warrant exercisable at $8.14 per share.
Cybin plans to use the proceeds to repay its outstanding unsecured convertible debentures held by High Trail Special Situations LLC in full. The company has already delivered notice to High Trail regarding the prepayment, and High Trail has agreed not to make further conversions after receiving the notice.
The remaining funds will support the advancement of Cybin’s clinical programs, including CYB003, CYB004, and CYB005, as well as working capital and general corporate purposes. Cybin is currently in Phase 3 clinical trials, focusing on developing proprietary drug discovery platforms and innovative delivery systems for mental healthcare treatments.
Jefferies, TD Cowen, and Cantor are serving as joint lead placement agents for the offering, with Bloom Burton Securities Inc. acting as an additional placement agent. The transaction remains subject to market conditions and approval from Cboe Canada Inc. and NYSE American.
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