Atai Life Sciences (NASDAQ: ATAI) late last night announced the pricing of its upsized initial public offering. The clinical-stage biotech firm now expects its IPO to raise gross proceeds of roughly $225.0 million for the company.

Under the terms of the offering, Atai is looking to sell a total of 15.0 million common shares at a price of US$15.00 per share. No warrant is included in the offering.

Notably, the firms IPO is being conducted at the high-end of the initial range provided for the offering, which was expected to be priced between $13.00 and $15.00 a share. The company also initially intended to issue 14.3 million common shares under the offering, before upsizing.

The company has also granted the underwriters an over-allotment option, which is good for an additional 2.25 million common shares. If exercised, its expected to bring the company an additional $33.8 million to company coffers.

The offering is expected to close June 22, with the company to commence trading today on the Nasdaq Global Market under the symbol “ATAI”.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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