Pharmaceutical company, Clearmind Medicine, lists 17 million shares for resale, associated with a $10 million convertible note agreement deal
Clearmind Medicine, a company specialising in psychedelic-based mental health treatments, has announced significant financial developments. In a recent SEC filing, the company disclosed details of securities purchase agreements and stock resales.
On September 17, 2025, Clearmind entered into Securities Purchase Agreements with institutional investors, issuing $10 million in convertible promissory notes for a total purchase price of $9 million. Upon the effectiveness of the SEC, a second initial closing will occur, selling $1.94 million in notes for $1.75 million.
The initial closing of these securities purchase agreements resulted in $555,556 in notes being sold for $500,000. Clearmind may request additional note purchases up to $7.5 million, yielding $6.75 million in proceeds, in three-month intervals after the second closing.
The resale of up to 17.02 million common shares is tied to the conversion of $2.5 million in initial promissory notes. The accrued interest on these notes totals $894,048. It's important to note that the financial information for Clearmind Medicine Inc. is not provided in the given context.
Interestingly, the company's stock has potentially been affected by a decline in psychedelic medicine stocks following Compass's depression asset data release.
In a further development, Clearmind Medicine (NASDAQ: CMND) has filed a prospectus for the resale of up to 17.02 million common shares. The specifics of this resale, however, are yet to be disclosed.
These events related to Clearmind Medicine's securities and stock have been disclosed in an SEC filing. Investors are advised to closely monitor these developments for potential impacts on the company's stock performance.
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