Mind Medicine (MindMed) Inc. announced that it has entered into a senior secured credit facility with K2 HealthVentures. Upon closing, $15.0 million of the $50.0 million loan facility was funded. Additional funding amounts of up to an aggregate of $20.0 million may be drawn over the course of the loan term, in each case subject to certain milestones being achieved.

An additional tranche of $15.0 million is also available, subject to the mutual discretion of the Company and lender. Even if such additional funds become available, the Company is under no obligation to draw funds in the future. Borrowings under the credit facility mature on August 1, 2027.

Additional details of the credit facility are filed with the Securities and Exchange Commission on a Current Report on Form 8-K of the Company filed on August 14, 2023.