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Lucy Scientific Discovery Inc. (NASDAQ:LSDI), a psychedelics manufacturing company, has amended its Dealer’s License with Health Canada to include cocaine and heroin among its authorized substances. This move aligns with a public health approach to address the drug crisis, potentially enhancing treatment options for substance users. Currently, Lucy manufactures various psychedelic substances like Psilocybin and MDMA. CEO Chris McElvany emphasizes the need for harm reduction programs to combat overdose deaths, especially from fentanyl. The company aims to positively influence the psychedelics industry, focusing on research and safe access programs.
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Lucy Scientific Discovery (Nasdaq: LSDI) has successfully closed its initial public offering (IPO) of 1,875,000 common shares at a price of $4.00 each, generating approximately $7.5 million in gross proceeds before expenses. This IPO marks a pivotal moment for the company, which aims to become a leader in the psychotropics-based medicines industry. Trading for these shares commenced on February 9, 2023, following an effective registration statement filed with the SEC on February 8, 2023. WestPark Capital acted as the sole book-running manager for this offering.
Lucy Scientific Discovery has priced its initial public offering (IPO) at $4.00 per share, aiming to raise approximately $7.5 million before expenses. The Company will offer 1,875,000 common shares, with an additional 15% over-allotment option available to underwriters. Trading is set to begin on the Nasdaq Capital Market under the ticker symbol 'LSDI' on February 9, 2023, and is expected to close on February 13, 2023. The registration statement for this offering was filed with the SEC and became effective on February 8, 2023. Lucy Scientific is focused on the psychotropics sector, holding a Dealer’s Licence that allows them to manufacture controlled substances.