Restore Mind Medicine

Destructive, Dilutive Financing $ 1002 Two weeks after FCM's negotiations with the Company fell through, MindMed announced a financing of 7M shares (25% of the shares outstanding at the time) and a full warrant accompaniment at $4.25 a share compared to MindMed's share price of $6.12 and a 30-day VWAP of $9.26 right before the announcement. The offering effectively valued MindMed's shares at $1.73 a share which was 41% of cash value. The result: MindMed's share price plummeted close to 50% overnight ($3.24 per share) and has never recovered past $4.25. Source: Company SEC Filings. Pricing from Refinitiv and Pitchbook. Recovery defined based on closing price. See [7], [15] 45

View entire presentation