STOCK TITAN

Clearmind investors convert $696K each at $1 per share

Clearmind Medicine converts portions of two investors’ notes into equity at $1.00 per share and resets the note floor price to $1.00.

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Clearmind Medicine Inc. (CMND) reports that, under previously amended securities purchase agreements allowing issuance of up to $10,000,000 in convertible promissory notes, two existing note investors entered into a conversion agreement on September 2, 2026. Each investor converted $687,500 of principal (or $696,079.50 including accrued interest) into common shares at an agreed conversion price of $1.00 per share, overriding the usual conversion formula for this amount. The parties also amended the form of note so that the Floor Price is now $1.00 per common share. The company states that the resulting conversion shares are registered for resale under an effective registration statement and will be issued without restrictive legends.

Positive

  • None.

Negative

  • None.

Filing Explained

The September 2 agreement records an agreed, irrevocable conversion notice—not completed issuance: Clearmind must deliver the registered, unlegended conversion shares under the notes’ timing, and their issuance would increase the common share count and reduce existing holders’ percentage ownership absent offsetting changes.

Convertible note capacity $10,000,000 aggregate principal Maximum principal amount of convertible promissory notes issuable under the amended securities purchase agreements
Principal converted per investor $687,500 Principal amount under the promissory notes converted by each of the two investors
Total converted including interest per investor $696,079.50 Principal plus accrued interest converted into common shares for each investor
Agreed Conversion Price $1.00 per common share Price used to convert the agreed note amounts into common shares
Floor Price $1.00 per common share Amended Floor Price in the form of convertible note attached to the securities purchase agreement
Effective Date of Conversion Agreement September 2, 2026 Date the conversion agreement between Clearmind Medicine and the investors was entered into
convertible promissory notes financial
"the Company shall issue and sell, from time to time, convertible promissory notes"
A convertible promissory note is a loan a company takes that can later be turned into shares instead of being paid back in cash; think of lending money now in exchange for a voucher that can become ownership later. Investors care because it mixes credit risk and potential ownership upside—it can protect lenders if a company struggles while also diluting existing shareholders when converted, affecting future share value and investor returns.
Floor Price financial
"the Floor Price in the form of Promissory Note attached to the SPAs shall be amended"
The floor price is the minimum price at which a security, asset, or offering will be sold or accepted, acting like a seller’s “bottom line” or a reserve in an auction. For investors it matters because it sets a visible downside limit and can influence trading, valuation, and expectations of risk—like knowing there’s a safety net that a sale won’t go below a set level.
Conversion Price financial
"notwithstanding the Conversion Price formula set forth in the Notes"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
Conversion Shares financial
"the number of Common Shares issuable upon conversion of the Agreed Conversion Amount shall be"
Registration Statement regulatory
"The Conversion Shares have been registered for resale pursuant to a registration statement"
A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

FAQ

What did Clearmind Medicine Inc. (CMND) announce in this Form 6-K?

Clearmind Medicine Inc. reported a conversion agreement where two note investors converted outstanding amounts of $687,500 each (or $696,079.50 including interest) into common shares at $1.00 per share, and the note Floor Price was amended to $1.00 per share.

How large is Clearmind Medicine’s (CMND) convertible note program under the SPAs?

The amended securities purchase agreements allow Clearmind Medicine to issue and sell convertible promissory notes in an aggregate principal amount of up to $10,000,000 from time to time.

What conversion price was used for the Clearmind Medicine (CMND) note conversion?

For this agreed conversion, the company and the holders set an Agreed Conversion Price of $1.00 per common share, overriding the standard Conversion Price formula in the notes for the converted amount.

What amounts did each investor convert in the Clearmind Medicine (CMND) agreement?

Each of the two investors converted note principal of $687,500, which together with accrued interest resulted in $696,079.50 being converted into common shares at the agreed $1.00 per share price.

What change was made to the Floor Price in Clearmind Medicine’s (CMND) notes?

The definition of “Floor Price” in the form of convertible note attached to the securities purchase agreement was amended so that the Floor Price is now $1.00 per common share.

Are the Clearmind Medicine (CMND) conversion shares registered and freely tradable?

The company states the conversion shares are registered for resale under an effective registration statement and that they will be issued in book-entry or uncertificated form without restrictive legends, in accordance with that registration statement and applicable law.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

 

For the month of: September 2026

 

Commission file number: 001-41557

 

CLEARMIND MEDICINE INC.

(Translation of registrant’s name into English)

 

101 – 1220 West 6th Avenue

Vancouver, British Columbia

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F         Form 40-F 

 

 

 

 

CONTENTS

 

As previously announced, on April 30, 2026, Clearmind Medicine Inc. (the “Company”) entered into an amendment to the securities purchase agreements dated September 17, 2025 (as amended, the “SPAs”) with investors (the “CLA Investors”) pursuant to which the Company shall issue and sell, from time to time, convertible promissory notes (the “Promissory Notes”) in the aggregate principal amount of up to $10,000,000.

 

On September 2, 2026, the Company and the CLA Investors entered into a conversion agreement (the “Conversion Agreement”) pursuant to which each of the two CLA Investors converted an aggregate of $687,500 (or $696,079.50 including accrued interest thereon) under the Promissory Notes at an agreed conversion price of $1.00 per common share. In addition, the Company and the CLA Investors agreed that floor price in the form of Promissory Note attached to the SPAs shall be amended to $1.00 per common share. The foregoing description of the Conversion Agreement is qualified in its entirety by reference to the full text of such document, which is attached hereto as Exhibit 99.1. 

 

This Form 6-K incorporated by reference into the Registrant’s Registration Statements on Form F-3 (File Nos. 333-275991333-270859333-273293333-290404333-293521 and 333-295455) and Form S-8 (File No. 333-283695), filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.

 

1

 

EXHIBIT INDEX

 

Exhibit No.    
99.1   Form of Conversion Agreement

 

2

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Clearmind Medicine, Inc.
  (Registrant)
     
Date: September 2, 2026 By: /s/ Adi Zuloff-Shani
  Name:  Adi Zuloff-Shani
  Title: Chief Executive Officer

 

3

 

Exhibit 99.1

 

CONVERSION AGREEMENT

 

This Conversion Agreement (this “Agreement”) is entered into as of September 2, 2026 (the “Effective Date”), by and between Clearmind Medicine Inc., a British Columbia corporation (the “Company”), and the accredited investors party hereto (the “Holders”).

 

WITNESSETH

 

WHEREAS, the Company issued to the Holder certain convertible notes (the “Notes”) in the aggregate principal amount of $687,500, and together with accrued interest thereon, $696,079.50, pursuant to that certain Securities Purchase Agreement, dated September 17, 2025, as amended on April 30, 2026 (the “SPA”);

 

WHEREAS, the Notes are convertible into Common Shares of the Company on the terms and conditions set forth in Section 3 thereof;

 

WHEREAS, the Company and the Holder desire to effect a conversion of the outstanding amounts under the Notes at a mutually agreed conversion price, notwithstanding the Conversion Price formula set forth in the Notes; and

 

WHEREAS, the Company and the Holder desire to set forth their agreement with respect to such conversion and the applicable conversion price.

 

AGREEMENT

 

1. Definitions. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Notes.

 

2. Agreed Conversion.

 

2.1 Conversion Amount. Subject to the terms and conditions of this Agreement, the Holder hereby agrees to convert, and the Company agrees to honor the conversion of the outstanding Conversion Amount under the Notes (the “Agreed Conversion Amount”).

 

2.2 Agreed Conversion Price. Notwithstanding anything to the contrary in the Notes (including, without limitation, the definition of “Conversion Price” and the Floor Price), solely with respect to the conversion of the Agreed Conversion Amount pursuant to this Agreement, the parties hereby agree that the conversion price shall be $1.00 per Common Share (the “Agreed Conversion Price”).

 

2.3 Issuance of Common Shares. The number of Common Shares issuable upon conversion of the Agreed Conversion Amount shall be equal to the Agreed Conversion Amount divided by the Agreed Conversion Price, rounded in accordance with Section 3(a) of the Notes (the “Conversion Shares”).

 

 

2.4 Deemed Conversion Notice. For purposes of Section 3(b) of the Notes, the execution and delivery of this Agreement shall be deemed to constitute a valid and irrevocable Conversion Notice with respect to the Agreed Conversion Amount.

 

3. Mechanics; Timing

 

3.1 Share Delivery. The Company shall issue and deliver (or cause its transfer agent to issue and deliver) the Conversion Shares to the Holder (or its designee) in accordance with Section 3(b) of the Notes within the time period specified therein.

 

3.2 (Reserved)

 

4. Limited Waiver and Amendment

 

4.1 Override of Conversion Price Formula. Solely with respect to the conversion of the Agreed Conversion Amount pursuant to this Agreement, the parties hereby waive and amend the application of Section 3 of the Notes to provide that the Agreed Conversion Price shall apply in lieu of the Conversion Price otherwise determined thereunder.

 

4.2 Floor Price. The definition of “Floor Price” in the form of Convertible Note attached as Exhibit A to the SPA shall be amended to mean $1.00 per Common Share.

 

4.3 No Other Amendments. Except as expressly set forth herein, all terms and provisions of the Notes and the SPA shall remain in full force and effect, unmodified and unimpaired, and are hereby ratified and confirmed.

 

5. No Event of Default. The Company represents and warrants that, as of the Effective Date, no Event of Default has occurred and is continuing under the Notes.

 

6. Securities Law Matters

 

6.1 Registration Statement. The Conversion Shares have been registered for resale pursuant to a registration statement filed by the Company with the Securities and Exchange Commission (the “Registration Statement”). The Company represents that the Registration Statement is effective as of the Effective Date.

 

6.2 Legends. Upon issuance, the Conversion Shares shall not bear any restrictive legends, and the Company shall cause its transfer agent to issue such Conversion Shares in book-entry or other uncertificated form without restrictive legends, in each case in accordance with the Registration Statement and applicable law.

 

2

 

7. Representations of the Holder. The Holder represents and warrants that: (a) it is the lawful holder of the Note; (b) it has full power and authority to enter into this Agreement; (c) it is acquiring the Conversion Shares for its own account and not with a view to distribution in violation of the Securities Act; and (d) it has consulted with its own advisors regarding the conversion contemplated hereby.

 

8. Governing Law. This Agreement shall be governed by, and construed in accordance with, the governing law provisions set forth in Section 8(a) of the SPA, which provision is hereby incorporated by reference mutatis mutandis.

 

9. Miscellaneous.

 

9.1 Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof.

 

9.2 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original.

 

9.3 Further Assurances. Each party agrees to execute and deliver such further documents and instruments as may be reasonably necessary to carry out the intent of this Agreement.

 

[REMAINDER PAGE INTENTIONALLY LEFT BLANK]

 

3

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

CLEARMIND MEDICINE INC.  
   
By:        
Name:  Adi Zuloff-Shani  
Title: Chief Executive Officer  
   
By:    
Name: Hila Kiron-Revach  
Title: Chairman of the Board  

 

L.I.A Pure Capital Ltd.  
   
By:    
Name:  Kfir Silberman  
Title: Chief Executive Officer  

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

 

CLEARMIND MEDICINE INC.  
   
By:        
Name:  Adi Zuloff-Shani  
Title: Chief Executive Officer  
   
By:    
Name: Hila Kiron-Revach  
Title: Chairman of the Board  

 

Capitalink Ltd.  
   
By:        
Name:  Lavi Krasney  
Title: Chief Executive Officer  

 

 

Filing Exhibits & Attachments

1 document