atai Life Sciences Announces Launch of Initial Public Offering

Rhea-AI Summary

atai Life Sciences announced an initial public offering (IPO) of 14,286,000 common shares, priced between $13.00 and $15.00 each. The underwriters have a 30-day option to purchase an additional 2,142,900 shares. The offering aims to enhance atai's capabilities in mental health treatments using innovative therapies. The shares are set to list on the Nasdaq under the ticker symbol ATAI, with Credit Suisse, Citigroup, and others acting as book-running managers. A registration statement has been filed but is not yet effective.

Positive

• Funds from the IPO will potentially support the development of innovative mental health treatments.
• The IPO positions atai for growth in the emerging psychedelic and digital therapeutics market.

Negative

• Possible shareholder dilution due to the issuance of new shares.
• Market uncertainty leading up to the IPO may affect stock performance post-launch.

BERLIN, June 11, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences B.V. (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced the commencement of a proposed underwritten initial public offering of 14,286,000 of its common shares. All common shares to be sold in the proposed offering will be sold by atai. The underwriters of the offering will have a 30-day option to purchase up to an additional 2,142,900 common shares at the initial public offering price, less the underwriting discounts and commissions. The initial public offering price is expected to be between $13.00 and $15.00 per common share. atai has applied to list its common shares on the Nasdaq Global Market under the ticker symbol “ATAI.”

Credit Suisse, Citigroup, Cowen, and Berenberg are acting as book-running managers for the proposed offering. Cantor, RBC Capital Markets and Canaccord Genuity are also acting as book-running managers for the proposed offering.

The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to this offering, when available, may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, or by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146 or by email at prospectus@citi.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, or by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or, Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, New York 10020, or by telephone at +1 (646) 949-9000, or by e-mail at prospectusrequests@berenberg-us.com.

A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About atai Life Sciences
atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape, as well as the emergence of therapies that previously may have been overlooked or underused, including psychedelic compounds and digital therapeutics. atai is headquartered in Berlin, with offices in New York and London.

FAQ

What is the initial public offering price range for atai?

The initial public offering price for atai is expected to be between $13.00 and $15.00 per common share.

How many shares are being offered in atai's IPO?

atai is offering 14,286,000 common shares in its initial public offering.

What ticker symbol will atai use on the Nasdaq?

atai will be listed on the Nasdaq under the ticker symbol ATAI.

Who are the underwriters for atai's IPO?

The underwriters for atai's IPO include Credit Suisse, Citigroup, Cowen, and Berenberg.

When will atai's IPO registration statement become effective?

The registration statement has been filed but has not yet become effective, meaning shares cannot be sold until it does.