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  "documentTitle": "Freeman Capital Management | Activist Presentation Deck | 95 slides",
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  "authorName": "Freeman Capital Management",
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  "presentationDate": "2023-05-01 00:00:00",
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  "notes": "The slide uses a visual metaphor of a declining bar chart with a dollar sign to represent value destruction.",
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      "text": "The result: MindMed’s share price plummeted close to 50% overnight ($3.24 per share) and has never recovered past $4.25.",
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      "text": "The offering effectively valued MindMed’s shares at $1.73 a share which was 41% of cash value.",
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      "text": "Two weeks after FCM’s negotiations with the Company fell through, MindMed announced a financing of 7M shares (25% of the shares outstanding at the time) and a full warrant accompaniment at $4.25 a share compared to MindMed’s share price of $6.12 and a 30-day VWAP of $9.26 right before the announcement.",
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      "text": "Source: Company SEC Filings. Pricing from Refinitiv and Pitchbook. Recovery defined based on closing price. See [7], [15]",
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      "text": "Destructive, Dilutive Financing",
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