On January 9, 2026, Bright Minds Biosciences Inc. closed its underwritten public offering of 1,945,000 common shares at a price of US$90.00 per common share, for gross proceeds of US$175,050,000. In connection with the offering, Bright Minds granted the underwriters a 30-day option to purchase up to an additional 291,750 common shares, 15 percent of the shares sold, at the public offering price, less underwriting discounts and commissions. All of the securities were offered by the company.
The offering was conducted by way of a prospectus supplement to a shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission, which was declared effective on September 2, 2025. Jefferies, TD Cowen, Piper Sandler & Co., and Cantor acted as joint book-running managers for the offering.
Bright Minds is a biotechnology company developing treatments for neurological and psychiatric disorders, built on a platform of highly selective serotonergic agonists targeting key receptors in the brain across conditions such as epilepsy, depression, and other CNS disorders. The company intends to use the net proceeds to fund future clinical trials for its drug candidates, including for absence seizures, DEE, and Prader-Willi syndrome, to initiate Phase 1 clinical trials for BMB-105, and to support additional research and development on earlier-phase programs, as well as for general corporate and working capital purposes.
McMillan LLP acted as counsel to Bright Minds on the cross-border transaction, providing Canadian and US securities law support. The national, multidisciplinary team was led by Sasa Jarvis, Michael Shannon, and Herbert Ono and included Jordan Ghag, Habib Mavani, Anica Villamayor, and Pablo Tseng.