Company: CMND
Filing Date: 2025-11-26
Form Type: 424B5
Source: 0001213900-25-115106
Chunk: 8

Company: Clearmind Medicine Inc.
Filing Date: 2025-11-26
Form: 424B5
Chunk 8
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 not meet the alternatives of market value of listed securities or net income from continuing operations. We are thus non-compliant with the Minimum Stockholders’ Equity Rule.

The Notification Letter has no immediate effect on our listing on The Nasdaq Capital Market at this time, nor are our business operations affected by receipt of the Notification Letter. In accordance with the Nasdaq Listing Rules, the Company has 45 calendar days, or until December 18, 2025, to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from receipt of the Notification Letter to evidence compliance.

We are looking into various options available to regain compliance and maintain our continued listing on The Nasdaq Capital Market. There can be no assurance that our plan will be accepted or we will be able to regain compliance with the Minimum Stockholders’ Equity.

As previously announced, on September 17, 2025, we entered into securities purchase agreements (the “SPAs”) with investors (the “CLA Investors”) pursuant to which we shall issue and sell, from time to time, convertible promissory notes (the “Promissory Notes”) in the aggregate principal amount of up to $10,000,000 (the “Subscription Amount”). As of the date hereof, we have issued Promissory Notes in the aggregate principal amount of $2.5 million, of which an aggregate of $2.2 million of outstanding amounts due under the Promissory Notes were converted into 4,135,000 Common Shares. In addition, on November 13, 2025, we raised approximately $0.788 million in a registered direct offering of common shares and pre-funded warrants (see “Recent Developments—November 2025 Registered Direct Offering” below for additional information), and as of November 14, 2025, we issued 2,090,987 common shares as a result of the exercises for cash and on a cashless basis of warrants to purchase 2,894,769 common shares, which were previously classified as a liability given certain of their contractual terms which precluded equity classification, that were issued in our financings in in April 2023 and January 2024 for aggregate gross proceeds of approximately $183,000 (see “Recent Developments—Warrant Exercises” below for additional information). We expect that we will be able to demonstrate compliance with the Nasdaq stockholders’ equity requirement as a result of this offering and the aforementioned financing and warrant exercises.