COMPASS Pathways’ $144 Million Shares Offering

Goodwin Procter LLP advised COMPASS Pathways plc on the deal.

COMPASS Pathways plc (Nasdaq: CMPS) announced its public follow-on offering of 4,000,000 American Depositary Shares (“ADSs”) representing 4,000,000 ordinary shares at a public offering price of $36 per share, for gross proceeds of approximately $144 million. COMPASS has granted the underwriters a 30-day option to purchase up to an additional 600,000 ADSs at the public offering price, less underwriting discounts and commissions.

COMPASS, headquartered in London, UK, is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, with a focus on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. COMPASS is developing a new model of psilocybin therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and COMPASS is currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 22 sites across Europe and North America.

The Goodwin team was led by Ben Marsh (Picture), Yasin Akbari, Patty Shields, and Alexandra Haas (US Corporate), Sophie McGrath, Bryce McCullagh, Matthew Lee and Benjamin Bechhofer (UK Corporate), Dan Karelitz, Robert Young, Asta Evans and Joshua Lake (Tax), Alexander Varond and Elizabeth Mulkey (US Regulatory), Tim Worden and Lucy Sharples (UK Regulatory), and Ettore Santucci (Opinions), with invaluable assistance from Jim Matarese, Caroline Bullerjahn, Oliver Glynn-Jones, Humza Bokhari and Nicole Fontes.

Involved fees earner: Yasin Akbari – Goodwin Procter; Humza Bokhari – Goodwin Procter; Caroline Bullerjahn – Goodwin Procter; Asta Evans – Goodwin Procter; Oliver Glynn-Jones – Goodwin Procter; Alexandra Haas – Goodwin Procter; Daniel Karelitz – Goodwin Procter; Joshua Lake – Goodwin Procter; Matthew Lee – Goodwin Procter; Ben Marsh – Goodwin Procter; James Matarese – Goodwin Procter; Bryce McCullagh – Goodwin Procter; Sophie McGrath – Goodwin Procter; Elizabeth Mulkey – Goodwin Procter; Ettore Santucci – Goodwin Procter; Patty Shields – Goodwin Procter; Alexander Varond – Goodwin Procter; Tim Worden – Goodwin Procter; Robert Young – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: COMPASS Pathways plc;

Author: Martina Bellini

COMPASS Pathways’ $144 Million Shares Offering

Goodwin Procter LLP advised COMPASS Pathways plc on the deal.

COMPASS Pathways plc (Nasdaq: CMPS) announced its public follow-on offering of 4,000,000 American Depositary Shares (“ADSs”) representing 4,000,000 ordinary shares at a public offering price of $36 per share, for gross proceeds of approximately $144 million. COMPASS has granted the underwriters a 30-day option to purchase up to an additional 600,000 ADSs at the public offering price, less underwriting discounts and commissions.

COMPASS, headquartered in London, UK, is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, with a focus on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. COMPASS is developing a new model of psilocybin therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and COMPASS is currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 22 sites across Europe and North America.

The Goodwin team was led by Ben Marsh (Picture), Yasin Akbari, Patty Shields, and Alexandra Haas (US Corporate), Sophie McGrath, Bryce McCullagh, Matthew Lee and Benjamin Bechhofer (UK Corporate), Dan Karelitz, Robert Young, Asta Evans and Joshua Lake (Tax), Alexander Varond and Elizabeth Mulkey (US Regulatory), Tim Worden and Lucy Sharples (UK Regulatory), and Ettore Santucci (Opinions), with invaluable assistance from Jim Matarese, Caroline Bullerjahn, Oliver Glynn-Jones, Humza Bokhari and Nicole Fontes.

Involved fees earner: Yasin Akbari – Goodwin Procter; Humza Bokhari – Goodwin Procter; Caroline Bullerjahn – Goodwin Procter; Asta Evans – Goodwin Procter; Oliver Glynn-Jones – Goodwin Procter; Alexandra Haas – Goodwin Procter; Daniel Karelitz – Goodwin Procter; Joshua Lake – Goodwin Procter; Matthew Lee – Goodwin Procter; Ben Marsh – Goodwin Procter; James Matarese – Goodwin Procter; Bryce McCullagh – Goodwin Procter; Sophie McGrath – Goodwin Procter; Elizabeth Mulkey – Goodwin Procter; Ettore Santucci – Goodwin Procter; Patty Shields – Goodwin Procter; Alexander Varond – Goodwin Procter; Tim Worden – Goodwin Procter; Robert Young – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: COMPASS Pathways plc;

Author: Martina Bellini