Psyence adds intraday share sales to White Lion deal
Psyence Biomedical Ltd. updated its common stock purchase agreement with White Lion Capital to add a new intraday share sale option.
Rhea-AI Filing Summary
Psyence Biomedical Ltd. updated its common stock purchase agreement with White Lion Capital to add a new intraday share sale option. During the commitment period, Psyence can issue an Intraday Purchase Notice requiring White Lion to buy common shares up to 5% of the Average Daily Trading Volume per notice.
The purchase price is the lowest traded price during a one-hour valuation window after White Lion’s written acceptance, subject to a floor price set in each notice. White Lion must consent within 15 minutes and settle within two business days. In connection with the amendment, White Lion will pay Psyence a $22,000 legal document preparation fee.
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Key Figures
Intraday Purchase Notice Limit: 5% of Average Daily Trading Volume
Legal document preparation fee: $22,000
Consent response time: 15 minutes
+2 more
5 metrics
Intraday Purchase Notice Limit
5% of Average Daily Trading Volume
Maximum shares per Intraday Purchase Notice
Legal document preparation fee
$22,000
Paid by White Lion within two Business Days of amendment effective date
Consent response time
15 minutes
Time for White Lion to accept an Intraday Purchase Notice
Intraday Valuation Period
1 hour
Price set as lowest traded price during this period after acceptance
Settlement period
2 Business Days
Time for White Lion to wire purchase amount after acceptance
Key Terms
Intraday Purchase Notice, Average Daily Trading Volume, Commitment Period, floor price, +1 more
5 terms
Intraday Purchase Notice financial
"deliver an “Intraday Purchase Notice” to White Lion, requiring White Lion to purchase"
Average Daily Trading Volume financial
"not to exceed five percent (5%) of the Average Daily Trading Volume"
The average daily trading volume is the typical number of shares or units of a security that change hands each trading day, calculated over a set period. It tells investors how active a market is—like average traffic on a road—so higher volume usually means easier, faster trades and smaller price swings when buying or selling, while low volume can make orders harder to fill and cause bigger price moves.
Commitment Period financial
"which the Company may, during the Commitment Period, deliver an “Intraday Purchase Notice”"
floor price financial
"subject to a floor price specified in the applicable notice"
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.
Business Days financial
"Settlement of any Intraday Purchase Notice will occur within two (2) Business Days"
Business days are the calendar days when banks, stock exchanges and government offices are open for routine operations—typically Monday through Friday, excluding public holidays in the relevant country. For investors they matter because many deadlines, trade settlements and official filings are measured in business days rather than calendar days, like using a workweek clock instead of including weekends and holidays when planning transactions or expecting responses.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What change did Psyence Biomedical (PBM) make to its White Lion agreement?
Psyence Biomedical added an intraday purchase mechanism to its common stock purchase agreement with White Lion Capital. This lets Psyence require White Lion to buy shares during the commitment period, under defined volume and pricing terms tied to market trading.
How does the new Intraday Purchase Notice work for Psyence Biomedical (PBM)?
Under an Intraday Purchase Notice, Psyence can require White Lion to buy common shares, capped at 5% of Average Daily Trading Volume per notice. White Lion must consent within 15 minutes, and settlement occurs within two business days after acceptance.
What fee will White Lion pay Psyence Biomedical (PBM) in connection with this amendment?
In connection with the amendment adding the intraday mechanism, White Lion agreed to pay Psyence Biomedical a legal document preparation fee of $22,000. This fee is payable within two business days of the amendment’s effective date, providing Psyence with immediate cash compensation.
Does the amendment change Psyence Biomedical’s existing Purchase Agreement with White Lion?
The amendment mainly adds the Intraday Purchase Notice mechanism and updates related definitions. Apart from these changes and the $22,000 fee arrangement, the existing common stock purchase agreement otherwise continues in full force and effect according to its original terms.
What timing rules apply when Psyence Biomedical (PBM) uses an Intraday Purchase Notice?
When Psyence delivers an Intraday Purchase Notice, White Lion has 15 minutes to provide written consent. After acceptance, a one-hour valuation period sets pricing, and settlement must occur within two business days by wire transfer of immediately available funds.
AI-generated analysis. How Rhea-AI works. Not financial advice.
