07:28 AM EDT, 09/05/2025 (MT Newswires) -- Bright Minds Biosciences Inc. (DRUG.CN), which gained more than 17% yesterday, overnight Thursday entered into an equity distribution agreement providing for an at-the-market equity offering program.

A statement noted the ATM will allow Bright Minds, through agents, to offer and sell from time to time in the United States, through the facilities of NASDAQ, or any other method permitted by law, such number of common shares as would have an aggregate offering price of up to US$100 million.

The ATM will be effective for a period of three years from the date of effectiveness of the registration statement unless terminated before such date in accordance with the terms of the Equity Distribution Agreement. The timing and extent of the use of the ATM will be at the discretion of the company. Accordingly, total gross proceeds from the sales made under the ATM, if any, could be significantly less than US$100 million.

The company dsof intends to use any proceeds from the ATM for general corporate purposes, which includes expenses related to sales and marketing, capital expenditures, further product development, operational expenditures, and working capital for general corporate and administrative purposes.