Money Money Money – It Must Be Funny In A Rich Man’s World…….
Psychedelic mushroom producer First Person (FP) has upsized its proposed initial public offering again, this time to $13M from $10M.
First Person said in an SEC filing that it is now interested in offering 2.9M shares priced between $4 and $5, which would raise around $13M if priced at the midpoint. Underwriters would receive a 45-day option to buy up to 435K additional shares to cover-overallotments.
Selling shareholders would offer an additional 2.3M shares. First Person would not see any proceeds from that sale.
In July, First Person said in a filing that it was considering offering 2.3M shares priced between $4 and $5. Selling shareholders would also be offering 2.3M shares.
EF Hutton is serving as sole bookrunner. The company hopes to list its shares on Nasdaq under the symbol FP.
Based in Calgary, First Person produces mushrooms for nutritional, nutraceutical and therapeutic purposes, including those containing the psychedelic compound psilocybin.