Lucy Scientific Discovery, Inc. (LSDI) plans to raise $8 million in an initial public offering (IPO) on Friday, January 20th, IPO Scoop reports. The company will issue 2,000,000 shares at a price of $4.00 per share.
Lucy Scientific Discovery, Inc. has a market-cap of $60.9 million.
WestPark Capital served as the underwriter for the IPO.
Lucy Scientific Discovery, Inc. provided the following description of their company for its IPO: “(Note: Lucy Scientific Discovery Inc. filed terms for its IPO in an S-1/A dated Dec. 14, 2022: 2.0 million shares at $4.00 to raise $8.0 million. Lucy Scientific Discovery Inc. filed an S-1/A dated Nov. 14, 2022, in which it deleted the warrants from its IPO – now a stock-only deal with IPO proceeds estimated at about $10 million. In the Nov. 14, 2022, filing with the SEC, Lucy Scientific Discovery also switched sole book-runner – to WestPark Capital – from EF Hutton. Lucy Scientific Discovery filed its S-1 on Jan. 21, 2022; it submitted confidential IPO documents to the SEC on Sept. 27, 2021.) We are an early-stageÂ psychotropics contract manufacturing company focused on becoming the premier contract research, development, and manufacturing organization for the emerging psychotropics-basedÂ medicines industry. (Incorporated in British Columbia) In AugustÂ 2021, Health Canadaâ€™s Office of Controlled Substances granted us a Controlled Drugs and Substances Dealerâ€™s Licence under PartÂ J of the Food and Drug Regulations promulgated under the Food and Drugs Act (Canada), or a Dealerâ€™s Licence.Â In Canada, the psychedelic compounds that we are approved to produce under our Dealerâ€™s Licence, psilocybin, psilocin, lysergic acid diethylamide, or LSD, N,N-Dimethyltryptamine, or N,N-DMT, and 3,4-Methylenedioxymethamphetamine, or MDMA, and 4-Bromo-2,5-Dimethoxybenzeneethanamine, or 2C-B, are regulated under the Controlled Drugs and Substances Act, or CDSA. Certain psychedelic substances, including psilocybin, psilocin, mescaline and DMT, are classified as ScheduleÂ III drugs and the CDSA prohibits the possession of a Schedule III drug absent authorization under the CDSA or a related regulation, and it is illegal to possess Schedule III substances without a prescription. In the United States, these substances are classified under the Controlled Substances Act (21 U.S.C. Â§ 811), or the CSA, and the Controlled Substances Import and Export Act, or the CSIEA, and as such, medical and recreational use is illegal under the U.S. federal laws.Â An increasing number of the leading universities, hospitals and other public, private, and government institutions have launched research programs and are conducting clinical studies aimed at understanding the therapeutic potential of a range of psychedelic substances, including the John Hopkins Center for Psychedelic and Consciousness Research at Johns Hopkins University, the Imperial College of London Centre for Psychedelic Research, the Center for the Science of Psychedelics at the University of California, Berkeley, the Depression Evaluation Service at Columbia University, the Center for Psychedelic Psychotherapy and Trauma Research at the Icahn School of Medicine at Mount Sinai Health System, NewÂ York Cityâ€™s largest academic medical system, and the Center for the Neuroscience of Psychedelics at Massachusetts General Hospital, among many others. To address mounting demands for alternative therapies incorporating the use of psychedelics and other psychotropics, we intend to leverage our 25,000-square-foot facility ear Victoria, British Columbia, for research, development, and large-scaleÂ production of high-qualityÂ biological raw materials, APIs, and finished biopharmaceutical products.Â **Note: Revenue and net loss figures are in U.S. dollars for the year that ended June 30, 2022. “.
Lucy Scientific Discovery, Inc. was founded in 2017 and has 0 employees. The company is located at 301-1321 Blanshard Street Victoria, British Columbia V8W 0B6 Canada and can be reached via phone at (778) 410-5195 or on the web at https://www.lucyscientific.com/.
Receive News & Ratings for Lucy Scientific Discovery Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lucy Scientific Discovery Inc. and related companies with MarketBeat.com's FREE daily email newsletter.