06:59 AM EDT, 07/01/2025 (MT Newswires) -- Cybin ( CYBN ) said late Monday that it has signed a securities purchase agreement with High Trail Special Situations that will allow the company to sell and issue unsecured convertible debentures worth up to $500 million in total principal amount.

The company said it had completed the sale and issue of $50 million in debentures, with the remaining $450 million to be decided at a later date.

Cybin ( CYBN ) said the debentures have a two-year term from the date of closing, and have an annual interest of 5.5% of the principal amount, and it plans to use the net proceeds for working capital and general corporate purposes.

Cybin's ( CYBN ) stock was down more than 1% in recent Tuesday premarket activity.