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Canadian psychotropics company Lucy Scientific Discovery files for a $20 million IPO, offering units

January 24, 2022

Lucy Scientific Discovery, an early-stage psychotropics contract manufacturing company, filed on Friday to raise up to $20 million in an initial public offering. The company is offering units with warrants attached.

The British Columbia-based company, which began as a medicinal cannabis firm known as Hollyweed North Cannabis, has since obtained a Controlled Substances Dealer’s Licence from Health Canada to produce and conduct research using psilocybin, psilocin, MDMA, and LSD. The firm is early stage but plans to gain occupancy permit and commence operations this month, and achieve production-scale manufacturing capabilities and cGMP certification by November.

Lucy Scientific was founded in 2017 and plans to list on the Nasdaq under the symbols “LSDI” and “LSDIW”. EF Hutton is the sole bookrunner on the deal.