Mental health and wellness company combining the practices of administering psychedelics medicine with holistic integrated psychotherapy Numinus Wellness Inc. (TSX: NUMI) (OTCMKTS: NUMIF) has signed a deal agreeing to acquire fellow psychedelics company Novamind Inc. (CSE: NM) (OTCQB: NVMDF) in what is set to become the first major psychedelics merger.
According to the deal, the acquisition will be executed in stock, and the shareholders of Novamind will receive 0.84 of a common share of Numinus for each Novamind share held, this translates to an offer price of $0.44 for each Novamind share.
This implies that Numinus is offering a share premium of 51% to Novamind shareholders based on 20-day volume weighted average stock price of their stock. After the merger deal has been closed, Novamind shareholders will own around 18% of the merged company.
The merged company will operate using the name Numinus and under the company’s managerial structure. The company will run 13 wellness clinics across North America 4 research facilities and one bioanalytical laboratory.
The merged company will be having combined revenue of around $10 million and will have over $56 million in the bank making it the psychedelics medicine company with the highest revenue in the psychedelics industry.
According to the chief executive officer of Novamind, Yaron Conforti, the transaction is expected to be closed in June 2022 and Novamind is looking forward to this.
“The combination of Novamind’s network of mental health clinics and research sites in the US and Numinus’ leadership in psychedelic-assisted psychotherapy in Canada creates a best-in-class company. The combined entity s supported with over C$50 Million in pro-forma capital and positioned with distinct capabilities to serve a growing and diverse group of stakeholders. We are to join Numinus a true leader in mental health innovation,” said the CEO.