On February 10, 2025, Cybin Inc. (CBOE Canada: CYBN, NYSE American: CYBN) announced an at-the-market (ATM) equity offering of common shares for gross proceeds of up to US$100 million (C$134.6 million). The offering is being conducted under a distribution agreement with Cantor Fitzgerald Canada Corporation and Cantor Fitzgerald & Co. as Canadian and U.S. agents, respectively. Shares will be sold on CBOE Canada and NYSE American at prevailing market prices, with the agents receiving a 3% commission on the gross sale price per share. The offering will remain open until Cybin raises the full amount or until September 17, 2025, whichever comes first. Net proceeds, expected to be up to US$97 million (C$130.6 million), will be used for growth initiatives and working capital.

Legal advisors include Aird & Berlis LLP (Canadian counsel to Cybin), Dorsey & Whitney LLP (U.S. counsel to Cybin), Bennett Jones LLP (Canadian counsel to the agents), and Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C. (U.S. counsel to the agents). The offering has no minimum sale requirement, meaning Cybin may raise any portion of the intended amount or none at all.