Cybin Raises $50M In Convertible Debenture Private Placement With Potential $500M Total Funding With High Trail Special Situations

Author: Benzinga Newsdesk | July 01, 2025 10:26am

- Funding agreement contemplates a conversion formula with a potential 30% premium upon conversion and positions the Company for growth, and accelerated advancement of its clinical pipeline programs, CYB003 and CYB004 -

Cybin Inc. (NYSE:CYBN) (Cboe Canada: CYBN) ("Cybin" or the "Company"), a clinical-stage breakthrough neuropsychiatry company committed to revolutionizing mental healthcare by developing new and innovative next-generation treatment options, is pleased to announce the Company has entered into a securities purchase agreement (the "Securities Purchase Agreement") with High Trail Special Situations LLC ("High Trail"), pursuant to which the Company agreed to sell and issue to High Trail up to US$500,000,000 in aggregate principal amount of unsecured convertible debentures (the "Convertible Debentures"). The sale and issue of US$50,000,000principal amount of Convertible Debentures was completed on June 30, 2025 (the "Private Placement"). The sale and issue of US$450,000,000 of the principal amount of Convertible Debentures will be determined at a future date, upon mutual agreement of the parties.

Posted In: CYBN