![]() 'Facilitating greater access to these breakthrough treatments is critical in helping people find new ways to improve their mental health. 'I am deeply committed to Novamind's vision to scale their operating model for psychedelic medicine,' Braganza commented. (acquired by Goldman Sachs Merchant Banking), Rexall Health Solutions (a subsidiary of McKesson Corp.) and Deloitte. Joseph previously held senior M&A roles at People Corp. Leveraging over 20 years of professional experience, Joseph recently led the M&A group as Vice President, Business and Corporate Development at Canadian Addiction Treatment Centres (CATC), a consolidator of outpatient addiction treatment clinics that currently operates over 70 clinics and an inpatient residential treatment facility. Joseph has gained tenure as a M&A specialist and strategist, building sustainable programmatic M&A approaches for high-growth organizations. Braganza joins the senior leadership team with a mandate to lead Novamind's M&A strategy, accelerating the Company's expansion plans for its network of clinics, retreats and clinical research sites. The author holds no licenses.Novamind Inc., (CSE: NM) (OTC PINK: NVMDF) (' Novamind' or the 'Company'), a leading mental health company specialized in psychedelic medicine, announces the appointment of Joseph Braganza to the role of Senior Vice President, Head of M&A. Always do additional research and consult a professional before purchasing a security. The author has no securities or affiliations related to this organization. Information for this briefing was found via Numinus Wellness. ![]() Numinus Wellness last traded at $0.53 on the TSX. Upon closing, Novamind shareholders will hold 18% of Numinus on a post-transaction basis. The transaction is expected to close in June 2022, following shareholder approvals of the transaction. What’s more, as recently as January the company raised funds, at the time selling $5.0 million worth of stock at a price of $0.40 per unit to an institutional investor. ![]() It didn’t sink below the $0.44 mark until well over a year later in January 22, after which it continued to fall as low as $0.18. Novamind debuted on the public markets last January, opening at a price of $1.50 per share. While the premium is rather significant, it should be noted that the sales price represents a major loss to the majority of shareholders. Shareholders of Novamind are to receive 0.84 of a Numinus share for each share held, equivalent to a price per share of $0.44, which is a 51% premium to the 20-day volume weighted average price of the company. ![]() The transaction will see total consideration for Novamind to consist of $26.2 million on a fully diluted basis. ![]() Numinus’ current executive team is said to be relatively unchanged, with key personnel from Novamind entering employment agreements effective upon closing. The path to profitability is also said to be shortened, although no specifics are provided. Gross margins are estimated to be roughly 37.9% on a post-transaction basis. The firm has referred to the pro-forma offerings as a “comprehensive clinical research offering,” based on Novamind’s DEA Schedule 1 licenses for research and Numinus’ own Health Canada licenses.įrom a financial perspective, the combined entity is expected to have annual revenues of roughly $10.0 million on a pro-forma basis, while the combination is expected to result in synergies of roughly $3.0 million per year. The proposed transaction is expected to result in Numinus having operations consisting of thirteen wellness clinics, four research facilities, and a bioanalytical lab, with the firm to have clinical trials underway for LSD, ketamine, MDMA, and psilocybin. ![]()
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