Mind Medicine (MindMed) Inc (MNMD)

[MomsSpaghetti]

MindMed: Financials and Company

Drug development is crazy expensive, and MindMed has taken the opportunity many times to raise capital to finance its growth and development over the last year. On this note, keep an eye out for up to CAD $500 million to be raised over the next two years; the base shelf prospectus has been filed and will be effective in the near future.

Funding –

Total Funding: As of March 30, 2021, MindMed had a cash balance of $203 Million (All in CAD)

Tranche 2: February 18, 2020 MindMed completes second tranche for $9,227,000 CAD

Tranche 3: February 26, 2020 MindMed completes third tranche for $10,252,000 CAD

Offering 1: May 26, 2020 MindMed completes bought deal financing for $9,582,000 CAD

Offering 2: October 30, 2020 MindMed completes bought deal for $28,751,000 CAD

Offering 3: December 11, 2020 MindMed completes bought deal for $34,523,000 CAD

Offering 4: January 7, 2021 MindMed completes bought deal for $92,100,000 CAD

Offering 5: March 8, 2021 MindMed complete private financing deal for $19,500,000 CAD

Base Shelf Prospectus: On April 9th, 2021, MindMed filed their final short form prospectus, pretty much laying out a way for them to more easily raise up to $500 million (CANADIAN) whenever market conditions are optimal for the next 25 months. So be on the lookout for some pretty decent money-raising when/if the share price is looking crispy

MindMed has never shied away from milking the pockets of eager investors; nor should they. The consistent interest from investors is a great sign; it's not as if people are scared of throwing their money into this company.

MindMed burned through $24.2 million CAD in 2020. Total comprehensive loss for the year of 2020 was $35.1 million but was offset by like $8 million.