Dentons advises atai Life Sciences on a US$175 million venture debt financing

Berlin —Global law firm Dentons, together with Latham & Watkins US, advised clinical-stage biopharmaceutical company atai Life Sciences (“atai”) on the closing of a subprime loan facility of up to $175 million Americans with Hercules Capital. Under the terms of the agreement, US$15 million was drawn at closing, with an additional US$20 million available to be drawn at atai’s option by March 15, 2023, and thereafter an additional US$25 million. additional US dollars that can be withdrawn by December 15. 2023. The remaining US$115 million will be available in tranches through March 31, 2025, subject to certain conditions being met.

Founded in 2018, atai is a clinical-stage biopharmaceutical company focused on transforming and innovating the treatment of mental health disorders. The company has been listed on the US technology exchange NASDAQ since June 2021 and is headquartered in Berlin, with offices in New York and London.

A cross-border Dentons team led by Thomas Schubert (Berlin) advised atai on the transaction. The team included senior associates Max Purnhagen and Matthias Hause in Berlin; partner Axel Schlieter and senior partner Julia Heitman in Dusseldorf; partner Marcel Janssen and associates Vivienne de Jong and Karsten Hovinga in Amsterdam; partner William Turner and partner Imogen Beaver in London; and relationship partner Kristina Beirne At New York.

Dentons previously advised the company on preparations for its NASDAQ IPO in June 2021 and the closing of its Series D and Series C funding rounds of US$157 million and US$125 million. .

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