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Numinus Acquires Novamind: What Does This Mean for the Psychedelic Industry? | NUMI, NM

Numinus Acquires Novamind: What Does This Mean for the Psychedelic Industry? | NUMI, NM

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Numinus Acquiring Novamind in First Major Psychedelics Merger

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Back to Numinus

This acquisition will make Numinus the psychedelic medicines company with the highest revenue, though of course there is still a long road to profitability.

Psychedelic stock investors woke up to some major news today: Numinus Wellness (TSX: NUMI) (OTCQX: NUMIF) announced that they are acquiring Novamind Inc. (CSE: NM) (OTCQB: NVMDF).

The acquisition will be done in stock, and shareholders of Novamind will receive 0.84 of a common share of Numinus per Novamind share held, implying an offer price of $0.44 per Novamind share. This means Numinus is offering a premium of 51% to Novamind shareholders, based on the 20-day volume-weighted average price of their stock. When the transaction is completed, Novamind shareholders will own around 18% of Numinus.

If you currently hold Novamind stock, you do not need to do anything. When the transaction is finalized, each Novamind share you own will automatically be transformed into 0.84 of a Numinus share.

#Numinus #NovaMind #psychedelicStocks