• Atai Life Sciences B.V., backed by billionaire investor Peter Thiel, has announced terms for its initial public offering.

• See the SEC prospectus here.

• The German company said it was looking to raise around $214.3 million through a U.S. IPO, targeting a valuation of about $2.3 billion.

• The biotech startup, which explores the use of psychedelic treatments for mental health disorders, said it planned to sell around 14.29 million shares priced between $13 and $15 per share.

• Launched in 2018, Atai has raised $362.3 million in cash so far.

• Atai will be listed on the NASDAQ and will trade under the ticker symbol “ATAI.”

• The company has built a pipeline of 10 development programs and six enabling technologies, each supported by its internal development and operational infrastructure.

• One of its companies, Recognify Life Sciences, has initiated a Phase 2a trial in the U.S.

• The company expects to initiate a Phase 2 trial for another program in 2021 and an additional three Phase 2 trials for other programs in 2022.

• In April, the company filed to raise 0 million in an IPO.

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