VICTORIA – Lucy Scientific Discovery Inc. , an early-stage psychotropics contract manufacturing company focused on becoming the premier contract research, development, and manufacturing organization for the emerging psychotropics-based medicines industry, today announced the pricing of its initial public offering of 1,875,000 common shares at a public offering price of $4.00 per share, for gross proceeds of approximately $7.5 million before deducting offering expenses. In addition, the Company has granted the Underwriters a 45 day over-allotment option to purchase an additional 15% or 281,250 shares.
The shares are expected to begin trading on the Nasdaq Capital Market on February 9, 2023 under the ticker symbol “LSDI”. The offering is expected to close on February 13, 2023, subject to satisfaction of customary closing conditions.
WestPark Capital, Inc. is the sole Book-Runner for the offering.
Lucy Scientific Discovery, Inc. is an early-stage psychotropics contract manufacturing company focused on becoming the premier contract research, development, and manufacturing organization for the emerging psychotropics-based medicines industry. In August 2021, Health Canada’s Office of Controlled Substances granted us a Controlled Drugs and Substances Dealer’s License under Part J of the Food and Drug Regulations promulgated under the Food and Drugs Act (Canada), or a Dealer’s License. A Dealer’s License authorizes us to develop, sell, deliver, and manufacture (through extraction or synthesis) certain pharmaceutical-grade active pharmaceutical ingredients, or APIs, used in controlled substances and their raw material precursors.
