Latham & Watkins Advises atai Life Sciences on US$50 Million Private Placement Financing

atai Life Sciences (NASDAQ: ATAI) (atai), a clinical-stage biopharmaceutical company on a mission to develop highly effective mental health treatments to transform patient outcomes, has announced it had entered into subscription agreements relating to the purchase of 18,264,840 ordinary shares of atai with a nominal value of €0.10 per share (Common Shares) and pre-funded warrant to purchase 4,566,210 Common Shares (the Pre-Funded Warrant). The financing is expected to result in gross proceeds of approximately US$50 million, before deducting placement agents’ fees and other expenses. The net proceeds from the financing are expected to be used by atai for general corporate purposes, including for working capital and to advance the clinical development of the company’s product candidates and programs. The private placement is subject to certain closing conditions, including the expiration of the waiting period pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the HSR Act) related to the filing expected to be made by Christian Angermayer in connection with Apeiron’s investment in this financing. The financing is expected to close in the third quarter of 2025.

Latham & Watkins LLP is advising atai Life Sciences in the financing, with a corporate team led by New York partner Nathan Ajiashvili, with associates Kaj Nielsen, Katie Byun, and Vanessa Hillabrand. Advice was also provided on antitrust matters by Washington, D.C. partner Patrick English; and on public company representation matters by New York counsel Irina Yevmenenko.