tiprankstipranks
Company Announcements

Psyence Biomedical Converts Debt to Equity

Psyence Biomedical Converts Debt to Equity

Psyence Biomedical (PBM) has released an update.

Psyence Biomedical Ltd. has entered into a debt-for-equity exchange agreement with Newcourt SPAC Sponsor, LLC to convert a $1,615,501 promissory note into common shares. This strategic financial move aims to fully satisfy the debt obligations of Psyence Biomedical through the issuance of shares at a determined price, with provisions for additional compensation if share value fluctuates. The agreement stipulates release from debt in return for shares and includes terms to ensure compliance with securities regulations.

For further insights into PBM stock, check out TipRanks’ Stock Analysis page.

Questions or Comments about the article? Write to editor@tipranks.com

Questions or Comments about the article? Write to editor@tipranks.com
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App