Cybin Completes $175 Million Registered Direct Offering

Funding Announcement: Cybin Inc. has successfully closed a registered direct offering of 22,277,750 common shares and 4,605,500 pre-funded warrants, raising approximately $175 million to support its mental health treatment programs.

Investor Participation: The financing involved both new and existing investors, including notable firms such as Venrock Healthcare Capital Partners and OrbiMed, highlighting strong interest in Cybin's innovative approach to neuropsychiatry.

Use of Proceeds: The funds will be utilized to repay outstanding convertible debentures, advance the development of Cybin's drug candidates (CYB003, CYB004, and CYB005), and for general corporate purposes.

Regulatory Compliance: The offering was conducted in accordance with U.S. and Canadian securities regulations, with the company emphasizing that its products have not yet been evaluated by regulatory authorities for medical claims.