Aird & Berlis represented the PsyBio Therapeutics, Inc.
PsyBio Therapeutics Corp. (formerly Leo Acquisitions Corp.) completed a reverse takeover of PsyBio Therapeutics, Inc., a biotechnology company developing a new class of drugs intended for the potential treatment of mental health challenges and other disorders.
The Reverse Takeover was completed by way of a “three-cornered” amalgamation pursuant to the provisions of the Business Corporations Act (British Columbia) and a “three-cornered” merger under the laws of the State of Delaware. The Reverse Takeover constitutes PsyBio’s Qualifying Transaction (as defined by Policy 2.4 of the TSX Venture Exchange (the “TSXV”).
In connection with the Reverse Takeover, on December 4, 2020, PsyBio Therapeutics Financing Inc. completed a brokered private placement of 41,409,698 subscription receipts for aggregate gross proceeds of approximately $14.5 million.
The Aird Berlis team included Sherri Altshuler (Picture), Melanie Cole, Adria Leung Lim, Amy Marcen-Gaudaur, Russell Sanders, Meredith McCann, David Mba (Corporate and Securities) and Barbara Worndl (Tax).
Involved fees earner: Sherri Altshuler – Aird & Berlis LLP; Melanie Cole – Aird & Berlis LLP; Adria Leung Lim – Aird & Berlis LLP; Amy Marcen-Gaudaur – Aird & Berlis LLP; David Mba – Aird & Berlis LLP; Meredith McCann – Aird & Berlis LLP; Russell Sanders – Aird & Berlis LLP; Barbara Worndl – Aird & Berlis LLP;
Law Firms: Aird & Berlis LLP;
Clients: PsyBio Therapeutics, Inc;