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Clearmind (OTC:CMND) inventory slid after the Canadian psychedelic drug developer uplisted its shares to Nasdaq and raised practically $8M by a public providing.
Shares of Clearmind opened at $5.42, just lately altering fingers at $5.57 at round 11:00 a.m. ET. The inventory closed at $7.90 on Monday, the final day it was buying and selling on the OTC market.
Clearmind priced 1.15M shares at $6.50 per share. Underwriters had been granted a 45-day possibility to purchase as much as 173K extra shares on the IPO worth. Aegis Capital is serving as sole bookrunner.
In October, Clearmind mentioned in a submitting that it was trying to supply 1.3M shares priced between $6 and $8, which might have raised round $9M if priced on the midpoint.
Previous to Tuesday, Clearmind shares had been traded OTC underneath the image CMNDD. The inventory can be listed on the Canadian and Frankfurt inventory exchanges.
Primarily based in Vancouver, Clearmind is creating psychedelic therapies for the remedy of binge ingesting and consuming problems. The corporate hopes to start scientific testing of its lead drug candidate by the tip of the yr.
Clearmind performed a 1-for-30 reverse inventory break up on Sept. 30.
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