10:09 AM EST, 02/20/2025 (MT Newswires) -- Atai Life Sciences ( ATAI ) said Thursday it has raised gross proceeds of about $63.3 million after closing its public offering of roughly 26.2 million shares and the underwriters' option to buy 3.9 million additional shares for $2.10 apiece.

The company said it intends to use the net proceeds from the offering for general corporate purposes, including for working capital and to advance the clinical development of its product candidates and programs.

Atai said it now expects its existing cash, short-term securities, public equity holdings and term loan facility to fund operations into 2027.

Shares of the company fell 4.3% in recent trading.

Price: 2.00, Change: -0.09, Percent Change: -4.31