BetterLife Pharma files final prospectus for $100M public offering

BetterLife Pharma Inc. (CSE: BETR) has filed a final short form prospectus with securities regulators in British Columbia, Ontario, and Alberta for a public offering of up to 555,000,000 common shares and pre-funded warrants, seeking gross proceeds of up to US$100 million (CDN$138.75 million).

The offering is priced at CDN$0.25 per common share or CDN$0.24999 per pre-funded warrant, with a minimum raise requirement of US$80 million (CDN$111 million). Each pre-funded warrant carries a nominal exercise price of $0.00001 and entitles the holder to acquire one common share.

Bloom Burton Securities Inc. is serving as lead agent, alongside Haywood Securities Inc. The agents will receive a cash commission of 7% of aggregate gross proceeds, as well as broker warrants equal to 7% of the total securities issued. The company has also granted the agents a 30-day over-allotment option covering up to 15% of the offering.

The Vancouver-based biotechnology company said it intends to use net proceeds to fund Phase 1A studies in healthy humans, conduct Phase 1B clinical trials for cluster headache and migraine simultaneously, run Phase 2 clinical trials for both conditions, and initiate a post-Phase 2 registration study for cluster headache. Remaining proceeds would support working capital and general corporate purposes.

The offering is expected to close on or about September 17, 2026, subject to customary closing conditions including approval from the Canadian Securities Exchange. The CSE has granted the company a waiver of shareholder approval requirements related to dilution levels resulting from the offering.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.

You May Also Be Interested In

• Corning (GLW) files for up to $2B offering of common shares
• JPMorgan cut off lending activity for Situational Awareness - FT
• The Generation Essentials Group receives NYSE non-compliance notice