On May 20, 2021, BetterLife Pharma Inc. (“BetterLife” or the “Company”) entered into an agreement with Research Capital Corporation as the lead underwriter and sole bookrunner, on behalf of a syndicate (together, the “Underwriters”), pursuant to which the Underwriters agreed to purchase, on a bought-deal basis, 15,812,500 units of the Company (the “Units”) at a price of $0.40 per Unit for aggregate gross proceeds to the Company of $6,325,000 (the "Offering"), including the full exercise of the over-allotment option.
Each Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.50 at any time up to 36 months from the closing of the Offering.
The closing of the Offering occurred on May 28, 2021.
BetterLife Pharma is an emerging biotechnology company engaged in the development and commercialization of next generation psychedelic products for the treatment of mental disorders.
Fasken advised Research Capital Corporation with a team led by John Sabetti and including Florind Polo, Jordana Keslassy, Nazish Mirza and Mitchell Thaw.
Jurisdiction
- Ontario
