acquisition
Beckley Psytech Limitedatai Life Sciences N.V. (renamed Atai Beckley N.V. on completion)
- Target
- Beckley Psytech Limited
- Acquirer or investor
- atai Life Sciences N.V. (renamed Atai Beckley N.V. on completion)
- Upfront
- Not disclosed
- Contingent
- Not disclosed
- Headline total
- Not disclosed
- Currency
- ordinary shares (all-share consideration, no cash)
- Status
- closed
- Close date
- 5 November 2025
- Geography
- UK
- Lead asset
- BPL-003 (5-methoxy-N,N-dimethyltryptamine benzoate); second asset ELE-101 (psilocin)
- Phase
- Phase 2 at deal date
- Indication
- treatment-resistant depression and alcohol use disorder (BPL-003); major depressive disorder (ELE-101)
Structure
Share purchase agreement dated 2025-06-02 to acquire the entire issued share capital of Beckley Psytech not already owned. SPA consideration: 105,044,902 ordinary shares of EUR 0.10 nominal value. At closing 2025-11-05 the company issued an aggregate 103,000,066 ordinary shares, issued directly as share consideration or as underlying replacement awards, to Beckley Psytech shareholders, certain consultants and certain equity award holders. atai already held an approximate one-third stake from a January 2024 strategic investment, so this acquired the remainder. A concurrent PIPE of 9,993,341 shares at $1.84 plus a pre-funded warrant over 6,311,006 shares, ~$30m gross, was explicitly NOT used to finance the acquisition. No USD consideration figure appears in either 8-K. The ~$390m all-share figure carried in our H1 2026 review is not in the filings and is not recorded in the _usd_m columns. Any USD number would be an inference from a share count times a share price on a chosen date. Agreement 8-K: accession 0001140361-25-021024 (2025-06-02, EX-2.1 = SPA).
Why it matters
Creates the entity Lilly agreed to buy eight months later in D001. Consideration was entirely in shares, no cash, which is a different kind of bet from the Lilly deal and is not visible if you only read the headline dollar figure the trade press carried.
Sourcing
- Source type
- sec_filing
- Verified
- 26 August 2026
- Confidence
- verified