Compass Pathways (CMPS) said Wednesday it has priced a public offering of 17.5 million American depositary shares at $8 per share for gross proceeds of $150 million.

The company said it is also offering institutional investors pre-funded warrants to purchase up to 1.3 million depositary shares at $7.9999 each.

In addition, the company said it has granted the underwriters a 30-day option to purchase up to about 2.8 million additional depositary shares.

The offering is expected to close around Friday.

The company said it intends to use net proceeds from the offering, along with cash to fund ongoing clinical trials and for general corporate purposes.