Cybin Inc. (OTCMKTS:CLXPF) jumped 13% in a week. The company has announced the launch of an overnight marketed common shares public offering of its shares at a share price and for gross proceeds to be established in the offering’s context.
The definitive terms of the offering will be ascertained during pricing as per an underwritten agreement terms the company will enter with Cantor Fitzgerald Canada Corporation and Cannacord Genuity Corp with other underwriters. Canaccord and Cantor will at as co-writers, and Cantor will be the leading bookrunner. The offering will be closed or around August 3, 2021, or any date the company and underwriters may agree on, subject to customary closing conditions.
The company is close to joining the growing list of Wall street psychedelic companies following conditional approval to list its stock on the New York Stock Exchange. The move will bring increased exposure to the company and the psychedelic sector. So in the coming days, CLXPF is a stock to watch.
Market Reaction:
On Tuesday, CLXPF stock gained 0.64% at $3.13 with more than 917k shares, compared to its average volume of 613k shares. The stock has moved within a range of $3.0700 – 3.2000 after opening the trade at $3.20. Over the past 52-week, the stock has been trading within a range of $0.0780 – 3.2200.
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