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NEW YORK and BERLIN, Feb. 20, 2025 (GLOBE NEWSWIRE) -- atai Life Sciences (NASDAQ: ATAI) (“atai” or “Company”), a clinical-stage biopharmaceutical company focused on transforming the treatment of mental health disorders, today announced that, on February 14, 2025, the closing of its public offering of 26,190,477 common shares occurred. Additionally, on February 17, 2025, the underwriter exercised its option in full to purchase an additional 3,928,571 common shares at the public offering price of $2.10 per share, and the closing of the underwriter’s option to purchase 3,928,571 additional common shares occurred on February 19, 2025. The aggregate gross proceeds from the offering, including the gross proceeds from the exercise of the underwriter’s option to purchase additional shares, were approximately $63.25 million, before deducting underwriting discounts and commissions and other offering expenses payable by atai.
atai intends to use the net proceeds from the offering for general corporate purposes, including for working capital and to advance the clinical development of its product candidates and programs. Based on this planned use of proceeds and atai’s current operating plan, atai estimates that its existing cash, short-term securities, public equity holdings and committed term loan facility will be sufficient to fund operations into 2027.
Berenberg acted as the sole bookrunner for the offering.
The securities in the underwritten offering described above were offered pursuant to an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission (“SEC”) on July 1, 2022 and declared effective by the SEC on July 11, 2022. This offering was made only by means of a prospectus supplement and the accompanying prospectus which formed a part of the effective shelf registration statement. The final prospectus supplement related to the offering was filed with the SEC on February 13, 2025 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus may be obtained by contacting: Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, New York 10020, or by telephone at +1 (646) 949-9000, or by e-mail at prospectusrequests@berenberg-us.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.