Clinical-stage psychedelics biotech Cybin Inc. (NYSE: CYBN) has announced a new underwritten offering of 66.66 million units to one of its largest institutional shareholders as well as new institutional investors.

Unit price set at $0.45, an approximate $30 million will be fully funded upon the offering’s closing (gross proceeds), with up to an additional $34 million that could be funded upon full exercise of the warrants.

Pursuant to a prospectus supplement to Cybin’s short-form base shelf prospectus of August 17, each unit will consist of one capital common share and one common share purchase warrant. The latter will be exercisable to acquire one of the former for $0.51 for a period starting 6 months after …

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