Psyched Wellness Closes Bought Deal Private Placement

One of the things that investors need to keep in mind that there is always the chance of the emergence of new industries that can throw up highly intriguing options and one needs to be well informed to cash in. However, in order to be well-informed one needs to get information from the right sources and at this point, the YouTube channel RichTv Live has emerged as one of the more reliable ones.

The channel often looks into up-and-coming industries that investors could look into and in its latest video, the analyst into the psychedelics-based wellness company Psyched Wellness (CSE: PSYC) (OTCQB: PSYCF) (FSE: 5U9). There was a significant development with regards to the company on Thursday and hence, it was no surprise that it became the subject of the latest video from RichTV.

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Key Takeaways

Yesterday the company announced yesterday that it successfully completed a bought deal private placement of its shares and that update brought Psyched Wellness in focus among investors. The company, which is involved in producing and distributing functional psychedelic mushrooms, also announced that it managed to raise gross proceeds of as much as $6,603,000 from the placement.

In the above-mentioned private placement, Psyched issued as many as 21,300,000 units to the subscribers. Each unit was available for $0.31 each. The fresh capital is, without a doubt, a significant boost to the company since it could help it in funding its development programs.

While this is a significant development and did result in the rise in the stock price yesterday, it is also necessary to note that it can often lead to a decline. As the RichTV analyst pointed out, the share price often goes down the levels that had been seen before the stock offering.

He was insistent that it is not a prediction and that might not happen with the Psyched Wellness stock. However, it is something that ought to be kept in mind by investors. As a matter of fact, the Psyched stock did experience considerable selloff on Thursday and it remains to be seen how investors behave on Friday. Last but not the least, it could be a stock that is worth keeping an eye on since the psychedelics wellness industry is at a nascent stage and could grow considerably in the future.

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