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Tryp Therapeutics Inc. completes initial public offering

Date closed: December 17, 2020

Value: $5 million

On Dec. 17, 2020, Tryp Therapeutics Inc. (Tryp) closed its initial public offering of units. A total of 20.01 million units were sold at a price of $0.25 per unit for aggregate gross proceeds of $5,002,500 (including the exercise in full by the agent of its overallotment option).

Tryp’s common shares commenced trading on the Canadian Securities Exchange under the symbol TRYP on Dec. 18, 2020. Canaccord Genuity Corp. acted as the sole agent for the offering.

Tryp, headquartered in Kelowna, British Columbia, is a pharmaceutical company focused on developing compounds with known activity and/or safety profiles, including formulations of synthetic psilocybin, for the treatment of rare or orphan diseases and other diseases with high unmet medical needs.

BLG represented the agent with a team led by Andrew Powers that included Ben Keen, Jake Hogan, Michael Vandenberghe and David Wood  (Regulatory).