IPO - COMPASS Pathways plc

Form Type: 424B5

Filing Date: 2025-05-08

Corporate Action: Ipo

Type: New

Accession Number: 000181659025000060

Filing Summary: On May 8, 2025, COMPASS Pathways plc filed a prospectus update related to the offering of American Depositary Shares (ADSs) valued at up to $150,000,000. The ADSs represent ordinary shares of the company, with each ADS corresponding to one ordinary share. The sale will occur through a sales agreement with TD Cowen, acting as an agent for the offering. This arrangement allows the company to sell the ADSs in an 'at the market offering' format, meaning shares will be sold as market conditions allow, without specific requirements for the number of shares sold. The commission for TD Cowen is set at a maximum rate of 3% of the gross sales price. Recent clinical developments were outlined, including the positive outcomes of a Phase 2b clinical trial for COMP360 psilocybin treatment for treatment-resistant depression, and ongoing Phase 3 trials. The company has also raised approximately $150 million from a previous offering in January 2025, showing strong interest in its clinical trials and potential treatments. This filing highlights that the SEC has not approved these securities, emphasizing the risks and market volatility associated with investing in the ADSs.

Form Type: 424B5

Filing Date: 2025-01-10

Corporate Action: Ipo

Type: New

Accession Number: 000162828025001142

Filing Summary: COMPASS Pathways plc is offering 24,014,728 American Depositary Shares (ADSs), representing 24,014,728 ordinary shares, along with pre-funded warrants to purchase up to 11,044,720 ADSs. Additionally, warrants are being offered to purchase up to 35,059,448 ADSs. The offering price for each ADS is set at $4.2750, while pre-funded warrants will be sold at $4.2649. The ADS warrants are exercisable at an exercise price of $5.7960. The funds raised from this offering are intended for financing ongoing Phase 3 clinical trials for treatment-resistant depression (TRD) and general corporate purposes. The company has previously attained Breakthrough Therapy designation from the FDA for its product COMP360, aimed specifically at treatment-resistant depression. As of January 8, 2025, the last reported sale price for the ADSs was $4.14. The underwriters, including TD Cowen and Cantor, are expected to deliver the securities on January 13, 2025. There are significant risks associated with this investment, including the potential for substantial dilution and a lack of trading market for the offered warrants.