Clearmind Draws $2M Convertible Notes at 10% Discount Under Existing $10M Facility
CMND has more than doubled off its 52-week low of $1.76 on light trading volume (0.1× avg).
Summary
Clearmind is issuing $2 million of convertible promissory notes for $1.8 million cash — a 10% discount — under its existing $10 million facility, with closing expected by October 19, 2026.
Key Events · Financing and Capital Events · CMND
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New $2M Convertible Note Draw
Clearmind delivered notice on October 16, 2026 to issue $2,000,000 aggregate principal of convertible promissory notes under its existing $10,000,000 SPA facility.
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10% Original Issue Discount
The company receives $1,800,000 cash for $2,000,000 of principal — a 10% discount that raises the effective cost of the capital.
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Closing Expected by October 19
The transaction is expected to close on or before October 19, 2026, subject to the terms of the amended securities purchase agreements.
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Stacks on Prior Note Conversion
Follows the September 2, 2026 conversion of $687,500 of convertible notes at $1.00 per share, continuing the pattern of note-to-equity conversions.
Analysis · CMND · Life Sciences
Clearmind is pulling another $2 million of convertible notes from a facility it set up in September 2025 and amended in April 2026, paying $1.8 million cash for $2 million of principal — a 10% original issue discount that effectively prices the money at a premium to the company. The notes convert into equity, so this adds to the share count over time and stacks on top of the September 2 conversion of $687,500 of notes at $1.00 per share. For a company this small, the cash extends runway, but the conversion feature means existing holders absorb further dilution as the notes convert. The draw is expected to close on or before October 19, 2026.
How filings like this one have moved
In the 30 days to Oct 31, 2026, 31.5% of the 1750 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CMND was trading at $6.26 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.2M. The 52-week trading range was $1.76 to $384.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.