Clearmind Medicine adds $1M convertible funding
Clearmind Medicine Inc. agreed to issue and sell additional convertible promissory notes with an aggregate principal amount of $1,000,000 to its CLA Investors under an existing facility of up to $10,000,000.
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Rhea-AI Filing Summary
Clearmind Medicine Inc. agreed to issue and sell additional convertible promissory notes with an aggregate principal amount of $1,000,000 to its CLA Investors under an existing facility of up to $10,000,000.
The buyers will pay cash equal to 90% of principal, or $900,000, for these notes. As part of the deal, the floor price used in the conversion price formula of the notes is being amended to $1.875 per common share. The transaction is expected to close on or about June 14, 2026 and is documented in an agreement dated June 12, 2026 that is filed as an exhibit.
Insights
Clearmind adds $1M in convertible debt at 10% discount with a set conversion floor.
Clearmind Medicine Inc. is drawing an additional $1,000,000 of convertible promissory notes from an existing up to $10,000,000 program. Investors fund at 90% of principal, so Clearmind receives $900,000 in cash while taking on the full principal obligation.
The agreement also amends the conversion “Floor Price” to $1.875 per common share, which defines the lowest price at which the notes can convert based on the formula in the existing notes. The company and investors agreed to exceed the prior quarterly limit once to accommodate this draw.
Future dilution and balance sheet effects will depend on how much of the total facility is ultimately issued and when holders choose to convert the notes into equity under the amended floor price mechanism.
Key Figures
Key Terms
convertible promissory notes financial
Floor Price financial
Form 6-K regulatory
Securities Purchase Agreement financial
accredited investors financial
Registration Statements on Form F-3 regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What financing did Clearmind Medicine (CMND) arrange in this Form 6-K?
How much cash will Clearmind Medicine (CMND) receive from the new notes?
What change was made to the conversion terms for Clearmind Medicine (CMND) notes?
Who are the investors in Clearmind Medicine’s (CMND) new $1,000,000 notes?
When is the new Clearmind Medicine (CMND) note transaction expected to close?
How does this Clearmind Medicine (CMND) deal relate to its existing note program?
AI-generated analysis. How Rhea-AI works. Not financial advice.