The moment has finally come. ATAI Life Sciences, the psychedelic sleeping giant, will IPO today Friday June 18th.
The Peter Thiel-backed firm will begin trading on the NASDAQ under the ticker “ATAI”, looking to raise over $200 million in its initial public offering.
This announcement is big news, not only for current and future ATAI shareholders but for the space as a whole. The entry of such a significant player, backed by these kinds of big names, will likely have a positive spillover for the entire sector.
Founded in 2018 by a team of top entrepreneurs, including Christian Angermayer, Florian Brand, Lars Wilde, and Srinivas Rao, ATAI has already raised approximately $360 million from private investors to date – so the IPO will bring their cash reserves to somewhere around double everybody else’s. Today’s IPO will instantly bring ATAI to the head of the class.
Some details of ATAI’s IPO
14,286,000 common shares will be for sale, 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 $15.00 and $17.00 per common share. Credit Suisse, Citigroup, Cowen, and Berenberg (as well as Cantor, RBC Capital Markets and Canaccord Genuity) are acting as book-running managers for the proposed offering.
ATAI will be looking to raise upwards of $214.3 million through IPO, targeting a valuation of around $2.3 billion.
There’s been an anticipatory buzz throughout the industry ever since ATAI announced its filing with the SEC. A major player entering the field will undoubtedly change the landscape and the IPO means not only new investment opportunities for investors but also a shot in the arm for the entire psychedelic medicine industry.
See our deeper dive into the company and the big news with ATAI Goes Public: A Closer Look and How ATAI’s IPO Will Affect MindMed.
And stay tuned to Microdose as we follow ATAI’s post-IPO performance.
The moment has finally come. ATAI Life Sciences, the psychedelic sleeping giant, will IPO today Friday June 18th.
The Peter Thiel-backed firm will begin trading on the NASDAQ under the ticker “ATAI”, looking to raise over $200 million in its initial public offering.
This announcement is big news, not only for current and future ATAI shareholders but for the space as a whole. The entry of such a significant player, backed by these kinds of big names, will likely have a positive spillover for the entire sector.
Founded in 2018 by a team of top entrepreneurs, including Christian Angermayer, Florian Brand, Lars Wilde, and Srinivas Rao, ATAI has already raised approximately $360 million from private investors to date – so the IPO will bring their cash reserves to somewhere around double everybody else’s. Today’s IPO will instantly bring ATAI to the head of the class.
Some details of ATAI’s IPO
14,286,000 common shares will be for sale, 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 $15.00 and $17.00 per common share. Credit Suisse, Citigroup, Cowen, and Berenberg (as well as Cantor, RBC Capital Markets and Canaccord Genuity) are acting as book-running managers for the proposed offering.
ATAI will be looking to raise upwards of $214.3 million through IPO, targeting a valuation of around $2.3 billion.
There’s been an anticipatory buzz throughout the industry ever since ATAI announced its filing with the SEC. A major player entering the field will undoubtedly change the landscape and the IPO means not only new investment opportunities for investors but also a shot in the arm for the entire psychedelic medicine industry.
See our deeper dive into the company and the big news with ATAI Goes Public: A Closer Look and How ATAI’s IPO Will Affect MindMed.
And stay tuned to Microdose as we follow ATAI’s post-IPO performance.