Company: CMND
Filing Date: 2025-12-05
Form Type: F-1/A
Source: 0001213900-25-118772
Chunk: 14

Company: Clearmind Medicine Inc.
Filing Date: 2025-12-05
Form: F-1/A
Chunk 14
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, at a conversion price equal to the lower of (i) $1.01 or (ii) 88% of the lowest daily volume weighted average price, or VWAP, during the 20 consecutive trading days immediately preceding the applicable date of conversion, or the Variable Price; provided that the Variable Price may not be lower than the floor price of $0.20, which is equal to 20% of the VWAP of the common shares during the 20 consecutive trading days immediately prior to the First Initial Closing, or the Floor Price, subject to certain adjustments as provided in the Promissory Note. The CLA Investors’ options to convert the outstanding amount due is subject to the limitation that the conversion may not result in each of the CLA Investors’ beneficial ownership exceeding 4.99% of our outstanding common shares. As of the date hereof, the total Promissory Notes in the aggregate principal amount of $2.5 million and accrued interest, due under the Promissory Notes were converted into 4,756,460 Common Shares. January 2024 Offering On January 11, 2024, we sold to several institutional investors an aggregate of 1,468,000 Common Shares in a registered direct offering at a purchase price of $1.60 per share, and pre-funded warrants to purchase up to 32,000 Common Shares at a purchase price of $1.5999, resulting in gross proceeds of approximately $2.4 million. In addition, we issued to the investors the January 2024 PIPE Warrants, which are unregistered warrants, to purchase up to an aggregate of 1,500,000 Common Shares in the concurrent January 2024 Private Placement. The January 2024 PIPE Warrants are exercisable upon issuance at an exercise price of $1.60 per common share, subject to adjustment as set forth therein, and have a 5-year term from the issuance date. The January 2024 PIPE Warrants may be exercised on a cashless basis if at the time of exercise thereof, there is no effective registration statement registering the Common Shares underlying the January 2024 PIPE Warrants. We paid the placement agent in the registered direct offering and January 2024 Private Placement a cash placement fee equal to 8.0% of the gross proceeds received in the registered direct offering and $75,000 for reasonable legal fees and disbursements for the placement agent’s counsel. On September 17, 2025, in connection with the issuance of