Psyence Group Enters into Debt-for-Equity Swap Agreement with its NASDAQ-Listed Associate, Psyence Biomedical [Yahoo! Finance]
Psyence Biomedical Ltd. - Ordinary Shares (PBM)
Company Research
Source: Yahoo! Finance
Group " or the " Company ") (CSE: PSYG) hereby announces that it has entered into a debt-for-equity swap agreement (the " Debt Swap Agreement ") with its NASDAQ-listed associate, Psyence Biomedical Ltd (NASDAQ: PBM) (" PBM " or " Psyence Biomed "), pursuant to which Psyence Biomed has agreed to issue to the Company 2,075,920 Psyence Biomed common shares at a deemed price of US$0.50 per common share, in exchange for the discharging of a portion of the debt repayment obligation due under a promissory note, dated January 25, 2024, issued by Psyence Biomed to the Company in connection with Psyence Biomed's listing of its common shares on the NASDAQ in January 2024 (" Debt Swap "). In the event that the average VWAP of Psyence Biomed common shares for the ten trading days prior to January 15, 2025 is lower than US$0.50, Psyence Biomed will be required to make a "make whole payment" in cash or common shares, as set forth in the Debt Swap Agreement. Psyence Biomed has agreed to register the
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News
- Psyence Biomed Announces Closing of $2.0 Million Private Placement [Canadian Business Journal (Canada)]Canadian Business Journal
- Psyence Biomed Announces Closing of $2.0 Million Private PlacementGlobeNewswire
- Psyence Biomedical Regains Nasdaq Compliance, Fortifying Market Position [Yahoo! Finance]Yahoo! Finance
- Psyence Biomed Announces $2.0 Million Private Placement [Yahoo! Finance]Yahoo! Finance
- Psyence Biomed Announces $2.0 Million Private PlacementGlobeNewswire
PBM
Sec Filings
- 12/23/24 - Form 6-K
- 12/20/24 - Form F-1
- 12/19/24 - Form 6-K
- PBM's page on the SEC website