Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 269

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 269
---
 offering expenses. The offering closed on November 17, 2022. Net proceeds from the offering were $6,363,906. |

In addition, the Company granted Aegis Capital Corp. (“Aegis”), who acted as the underwriters for the deal, a 45-day option to purchase up to 5,769additional common shares, equal to 15% of the number of common shares sold in the offering solely to cover over-allotments, if any (“Over-Allotment”). The public purchase price per additional common share would have been $ 195.00per share. The Over-Allotment was not exercised.

Aegis received 1,923underwriter warrants, each such warrant entitling the agents to receive one common share upon payment of $ 243.75per share, exercisable six months after the commencement of sales of this offering and expiring on a date which is no more than five years after the commencement of sales of the offering. The fair value of the underwriter warrants of $ 337,579were accounted for as an issuance cost within the share-based payment reserve. The fair value of the underwriters warrants was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:

| Risk-free interest rate  |     | 1.43 | % |
| Expected life (in years) |     |    5 |   |
| Expected volatility      |     |  150 | % |

In connection with the offering, the Company’s common shares were approved for listing on the Nasdaq and began trading on the Nasdaq (in addition to the CSE) under the symbol “CMND” on November 15, 2022.

Following the public offering and pursuant to the Xylo SPA (see note 8e(iii)), Xylo was entitled to receive 1,494common shares and 75warrants pursuant to an anti-dilution clause included in the agreement signed between the Company and Xylo on June 29, 2022. The anti-dilution feature was recorded as a derivative liability as of October 31, 2022. On May 23, 2023, the Company issued the 1,494common shares and 75warrants to Xylo. The fair value of the issuance ($ 296,845) was recorded in shareholder equity against the extinguishment of the derivative liability.

| (ii) | On January 16,