Press Release May 24, 2021

COMPASS Pathways Announces Public Offering of 4,000,000 American Depositary Shares

The Life Sciences team advised COMPASS Pathways plc (Nasdaq: CMPS) on its public follow-on offering of 4,000,000 American Depositary Shares (“ADSs”) representing 4,000,000 ordinary shares at a public offering price of $36 per share, for gross proceeds of approximately $144 million. COMPASS has granted the underwriters a 30-day option to purchase up to an additional 600,000 ADSs at the public offering price, less underwriting discounts and commissions.

COMPASS, headquartered in London, UK, is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, with a focus on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. COMPASS is developing a new model of psilocybin therapy, in which its proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and COMPASS is currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 22 sites across Europe and North America.

The Goodwin team was led by Ben Marsh, Yasin Akbari, Patty Shields, and Alexandra Haas (US Corporate), Sophie McGrath, Bryce McCullagh, Matthew Lee and Benjamin Bechhofer (UK Corporate), Dan Karelitz, Robert Young, Asta Evans and Joshua Lake (Tax), Alexander Varond and Elizabeth Mulkey (US Regulatory), Tim Worden and Lucy Sharples (UK Regulatory), and Ettore Santucci (Opinions), with invaluable assistance from Jim Matarese, Caroline Bullerjahn, Oliver Glynn-Jones, Humza Bokhari and Nicole Fontes.

For more details, read the press release.