2/24/2023 0 Comments Novamind stock priceUsers should perform full due diligence and investigate any securityįully before making an investment or before the execution of a security trade based upon information learned Or trading securities do so with caution. INK recommends that anyone making an investment Their tax advisor, to determine the suitability of any investment. Users should always consult with and obtain advice from their professional licensed financial advisor, including Do notĪssume that any recommendations, insights, charts, theories, or philosophies will ensure profitable investment. Opinions and recommendations contained herein should not be construed as investment advice. INK does not purport to tell people, or suggest to people, what they should buy or sell for INK is not an investment advisory service, a financial planner, an investment advisor nor a Filings may at any time contain errors and by using this site youĪcknowledge this fact. Parties legally required or permitted to do so. You acknowledge that the information which comprises the data is filed by or on behalf of the SEDI filers or other Data is provided “as is” and by using this site Insider information is based on filings made on the Systemįor Electronic Disclosure for Insiders (SEDI®). All information and opinionĮxpressed herein is subject to change without notice. INK makes no guarantee of accuracy or completeness. INK has made all reasonable efforts to ensure that all information provided is accurate at the time of inclusion The author holds no licenses.Disclaimer :: Use of this site is subject to, and your continued useĬonstitutes your express agreement to be bound by, our Legal and Terms of Use. Always do additional research and consult a professional before purchasing a security. The author has no securities or affiliations related to this organization. Information for this briefing was found via Numinus Wellness. Numinus Wellness last traded at $0.53 on the TSX. Upon closing, Novamind shareholders will hold 18% of Numinus on a post-transaction basis. The transaction is expected to close in June 2022, following shareholder approvals of the transaction. What’s more, as recently as January the company raised funds, at the time selling $5.0 million worth of stock at a price of $0.40 per unit to an institutional investor. It didn’t sink below the $0.44 mark until well over a year later in January 22, after which it continued to fall as low as $0.18. Novamind debuted on the public markets last January, opening at a price of $1.50 per share. While the premium is rather significant, it should be noted that the sales price represents a major loss to the majority of shareholders. Shareholders of Novamind are to receive 0.84 of a Numinus share for each share held, equivalent to a price per share of $0.44, which is a 51% premium to the 20-day volume weighted average price of the company. The transaction will see total consideration for Novamind to consist of $26.2 million on a fully diluted basis. Numinus’ current executive team is said to be relatively unchanged, with key personnel from Novamind entering employment agreements effective upon closing. The path to profitability is also said to be shortened, although no specifics are provided. Gross margins are estimated to be roughly 37.9% on a post-transaction basis. The firm has referred to the pro-forma offerings as a “comprehensive clinical research offering,” based on Novamind’s DEA Schedule 1 licenses for research and Numinus’ own Health Canada licenses.įrom a financial perspective, the combined entity is expected to have annual revenues of roughly $10.0 million on a pro-forma basis, while the combination is expected to result in synergies of roughly $3.0 million per year. The proposed transaction is expected to result in Numinus having operations consisting of thirteen wellness clinics, four research facilities, and a bioanalytical lab, with the firm to have clinical trials underway for LSD, ketamine, MDMA, and psilocybin.
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