Psyence Group and Newcourt Acquisition today announced that the F-4 registration statement on their proposed merger was declared effective by the SEC.
The Toronto-based target, subsidiary Psyence Biomedical, is a clinical-stage life science biotechnology company pioneering the use of nature-derived psilocybin in mental health and wellbeing
The deal values Psyence Biomedical at a pre-money equity value of $50 million. The parties intend to close the business combination within two business days following shareholder approval and the satisfaction of closing conditions. If approved, Psyen ce shares are anticipated to trade under the Nasdaq ticker PBM. Read more.
