Make Kitco Your Homepage

German psychedelic startup Atai targets valuation of $2.3 bln in U.S. IPO

Kitco News

June 11 (Reuters) - ATAI Life Sciences B.V., backed by billionaire investor Peter Thiel, said on Friday it is looking to raise as much as $214.3 million through a U.S. initial public offering, targeting a valuation of about $2.3 billion.

The Berlin-based biotech startup, which is exploring the use of psychedelic treatments for mental health disorders, said it plans to sell around 14.29 million shares priced between $13 and $15 per share. ( (Reporting by Sohini Podder in Bengaluru; Editing by Amy Caren Daniel)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.