Bright Minds Biosciences Announces Pricing of Upsized US$175 Million Public Offering of Common Stock

Executive Summary

• Bright Minds Biosciences priced a public offering of 1,945,000 common shares at $90.00 each, targeting gross proceeds of $175.05 million.
• The company granted underwriters a 30‑day option to purchase an additional 291,750 shares (up to ~15% overall increase).
• Net proceeds are earmarked for future clinical trials, Phase 1 initiation of BMB‑105, broader R&D on pipeline programs, and general corporate working capital.

Key Details

• Offering Size: 1,945,000 common shares at $90.00 per share.
• Gross Proceeds Expected: $175,050,000.
• Underwriter Option: Up to 291,750 additional shares (30‑day option) at the same price, less discounts/commissions.
• Closing Date: Anticipated on January 9, 2026, subject to customary conditions.
• Use of Proceeds:
• Fund clinical trials for drug candidates targeting absence seizures, DEE, and Prader‑Willi Syndrome.
• Initiate Phase 1 trial of BMB‑105.
• Support additional research & development on earlier‑phase programs.
• General corporate purposes and working capital.
• Book‑Running Managers: Jefferies, TD Cowen, Piper Sandler & Co., and Cantor.
• Regulatory Filing: Shelf registration statement on Form F‑3 declared effective September 2, 2025; offering made via prospectus supplement.
• ATM Termination: Simultaneously announced termination of the August 25, 2025 equity distribution agreement (ATM) that previously allowed up to $100 million of at‑the‑market sales. Effective immediately.

Notable Quotes

(No executive quotes were included in the release.)