Psyence Biomedical Ltd. Files 6-K on Debt-for-Equity Swap
Ticker: PBMWW · Form: 6-K · Filed: Dec 4, 2024 · CIK: 1985062
Sentiment: neutral
Topics: debt-for-equity, restructuring, filing-update
TL;DR
Psyence Biomedical Ltd. filed a 6-K detailing a debt-for-equity swap agreement and its addendum.
AI Summary
Psyence Biomedical Ltd. filed a Form 6-K on December 4, 2024, reporting on a Debt-for-Equity Swap Agreement effective September 30, 2024, and a First Addendum to this agreement effective November 26, 2024. The agreement is with Newcourt SPAC Sponsor, LLC.
Why It Matters
This filing provides updates on a significant financial restructuring, potentially impacting the company's debt and equity structure.
Risk Assessment
Risk Level: medium — Debt-for-equity swaps can indicate financial distress or a strategic move to reduce debt, requiring further analysis of the terms and impact.
Key Players & Entities
- Psyence Biomedical Ltd. (company) — Filer of the report
- Newcourt SPAC Sponsor, LLC (company) — Counterparty to the Debt-for-Equity Swap Agreement
- September 30, 2024 (date) — Effective date of the Debt-for-Equity Swap Agreement
- November 26, 2024 (date) — Effective date of the First Addendum to the Debt-for-Equity Swap Agreement
FAQ
What is the primary purpose of the Debt-for-Equity Swap Agreement?
The filing does not explicitly state the purpose, but it is a common mechanism to reduce debt by issuing equity.
Who is Newcourt SPAC Sponsor, LLC?
Newcourt SPAC Sponsor, LLC is the other party involved in the Debt-for-Equity Swap Agreement with Psyence Biomedical Ltd.
When was the First Addendum to the Debt-for-Equity Swap Agreement effective?
The First Addendum was effective as of November 26, 2024.
Is this filing an annual report?
No, this is a Form 6-K, which is a Report of Foreign Private Issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.
Where is Psyence Biomedical Ltd. headquartered?
Psyence Biomedical Ltd. is headquartered at 121 Richmond Street West Penthouse Suite 1300, Toronto, Ontario M5H 2K1.
Filing Stats: 396 words · 2 min read · ~1 pages · Grade level 8.6 · Accepted 2024-12-04 07:04:11
Filing Documents
- tm2430103d1_6k.htm (6-K) — 13KB
- tm2430103d1_ex10-2.htm (EX-10.2) — 20KB
- tm2430103d1_ex10-4.htm (EX-10.4) — 17KB
- tm2430103d1_ex10-7.htm (EX-10.7) — 25KB
- 0001104659-24-125346.txt ( ) — 76KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THESECURITIES EXCHANGE ACT OF 1934 For the month of December 2024 Commission File Number: 001-41937 Psyence Biomedical Ltd. (Translation of registrant’s name into English) 121 Richmond Street West Penthouse Suite 1300 Toronto, Ontario M5H 2K1 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F EXHIBIT INDEX EXHIBIT INDEX Exhibit Description 10.1 Debt-for-Equity Swap Agreement, effective as of September 30, 2024, by and between Psyence Biomedical Ltd. and Newcourt SPAC Sponsor, LLC (incorporated by reference to Exhibit 99.1 to the Company’s Current Report on Form 6-K filed with the SEC on October 8, 2024). 10.2 First Addendum to Debt-for-Equity Swap Agreement, effective November 26, 2024, by and between Psyence Biomedical Ltd and Newcourt SPAC Sponsor, LLC and Newcourt Acquisition Corp. 10.3 Debt-for-Equity Swap Agreement, effective as of September 30, 2024, by and between Psyence Biomedical Ltd. and Psyence Group. Inc. (incorporated by reference to Exhibit 99.2 to the Company’s Current Report on Form 6-K filed with the SEC on October 8, 2024). 10.4 First Addendum to Debt-for-Equity Swap Agreement, effective November 26, 2024, by and between Psyence Biomedical Ltd and Psyence Group, Inc. 10.5 Share Purchase and Sale Agreement, dated September 17, 2024, by and between the Company and Psyence Group Inc. (incorporated by reference to Exhibit 99.1 to the Company’s Current Report on Form 6-K filed with the SEC on September 20, 2024). 10.6 First Addendum to Share Purchase and Sale Agreement, dated as of September 27, 2024, by and among Psyence Biomedical Ltd., Psyence Group. Inc. and Psyence Labs Ltd (incorporated by reference to Exhibit 99.3 to the Company’s Current Report on Form 6-K filed with the SEC on October 8, 2024). 10.7 Second Addendum to Share Purchase and Sale Agreement, effective November 26, 2024, by and between Psyence Biomedical Ltd.,Psyence Group, Inc., and Psyence Labs Ltd. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: December 4, 2024 Psyence Biomedical Ltd. By: /s/ Neil Maresky Name: Dr. Neil Maresky Title: Chief Executive Officer and Director