COMPASS Pathways Prices Upsized IPO At $17/Shr, Above Expected Range

(RTTNews) - COMPASS Pathways plc announced the pricing of upsized initial public offering of 7.5 million American Depositary Shares or ADSs, representing 7.5 million ordinary shares at $17 per ADS for total gross proceeds of $127.5 million.

COMPASS Pathways has filed to sell 6.7 million ADSs in the offering at price expected to be between $14.00 and $16.00 per ADS, and the underwriters have an option for 30 days to purchase up to 1.005 million additional ADSs.

The ADSs are expected to begin trading on Nasdaq on September 18, 2020 under the ticker symbol "CMPS." The offering is expected to close on or about September 22, 2020.

COMPASS has granted the underwriters a 30-day option to purchase up to an additional 1.125 million ADSs at the initial public offering price, less underwriting discounts and commissions.