FSD Pharma Inc. Announces Closing of US $10 Million Registered Direct Offering to Institutional Investors

About this update from Quantum Biopharma Ltd. Subordinate Voting Shares Class B

[{"type":"text","content":"FSD Pharma Inc. Announces Closing of US $10 Million Registered Direct Offering to Institutional InvestorsTORONTO, ON / ACCESSWIRE / August 6, 2020 / FSD Pharma Inc. (NASDAQ:HUGE) (CSE:HUGE.CN) (\"FSD Pharma\" or the \"Company\") announces the closing of a previously announced agreement with investors for the purchase and sale of 2,762,430 Class B Subordinate Voting Shares of the Company (\"Shares\") and warrants to purchase 1,381,215 Shares (collectively, the \"Securities\") at a purchase price of US$3.62 per Share in a registered direct offering. Each Share was sold together with one-half of one warrant to purchase a Share. The warrants have an exercise price of US$4.26 per Share, are immediately exercisable and expire five years from the date of issuance.A.G.P./Alliance Global Partners acted as sole placement agent for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, acted as the Company's financial advisor for the offering.The Company has also granted the A.G.P./Alliance Global Partners an option to arrange for purchases of up to an additional US$10.0 million of Securities on the terms above for a period of 30 days following the initial closing.This offering has been made pursuant to an effective shelf registration statement (including a prospectus) on Form F-10 that the Company has previously filed with the U.S. Securities and Exchange Commission (the \"SEC\"). A prospectus supplement dated July 31, 2020 describing the terms of the offering has been filed with the SEC and with the securities commissions in each of the provinces of Canada (other than Québec) and is available on the SEC's EDGAR website located at www.sec.gov and on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com.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 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 any such state or jurisdiction.About FSD PharmaFSD Pharma Inc. is a publicly-traded holding company, since May 2018.FSD Pharma BioSciences, Inc., a wholly-owned subsidiary, is a specialty biotech pharmaceutical R&D company focused on developing over time multiple applications of its l...

More updates from Quantum Biopharma Ltd. Subordinate Voting Shares Class B