atai Life Sciences Announces Pricing of Upsized Initial Public Offering

Rhea-AI Summary

atai Life Sciences has priced its upsized initial public offering (IPO) at $15.00 per share, totaling 15,000,000 common shares and expected to raise $225.0 million. The offering is set to close on June 22, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 2,250,000 shares at the offering price. Trading on the Nasdaq Global Market under the symbol ATAI begins on June 18, 2021. This IPO is crucial for atai's future endeavors in mental health treatment innovations.

Positive

• Upsized IPO of 15,000,000 shares priced at $15.00 each, raising $225.0 million.
• Underwriters have a 30-day option for an additional 2,250,000 shares.
• Trading on Nasdaq begins on June 18, 2021, enhancing market visibility.

Negative

• Potential dilution of shareholder value with the secondary option of 2,250,000 shares.

BERLIN, June 17, 2021 (GLOBE NEWSWIRE) -- atai Life Sciences B.V. (Nasdaq: ATAI) (“atai”), a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders, today announced the pricing of its upsized initial public offering in the United States of 15,000,000 common shares at a price to the public of $15.00 per share. All common shares are being offered by atai. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by atai, are expected to be $225.0 million. In addition, atai has granted the underwriters a 30-day option to purchase up to an additional 2,250,000 common shares at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on June 22, 2021, subject to customary closing conditions.

atai’s common shares are expected to begin trading on the Nasdaq Global Market on June 18, 2021 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.

This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, 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 relating to the securities being sold in the offering has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 17, 2021. This press release shall not constitute an offer to sell or a 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 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.

Investor Contact:
Greg Weaver
atai – Chief Financial Officer
Email: greg.weaver@atai.life

Media Contact:
Anne Donohoe
KCSA Strategic Communications
Phone: +1 (212) 896-1265
Email: atai@KCSA.com

FAQ

What are the details of atai's IPO?

atai Life Sciences is offering 15,000,000 shares at $15.00 each, aiming to raise $225.0 million.

When will atai's shares start trading?

atai's shares are expected to begin trading on the Nasdaq on June 18, 2021.

How many additional shares can underwriters purchase?

Underwriters have a 30-day option to purchase an additional 2,250,000 shares.

What is the expected closing date for atai's IPO?

The IPO is expected to close on June 22, 2021, subject to customary conditions.

What is the significance of atai's IPO for investors?

The IPO raises substantial funds for atai's initiatives in transforming mental health treatments, potentially driving future growth.