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Telehealth services company Telemynd plans IPO

Teletherapy services provider Telemynd Inc. is planning an IPO to raise up to $8.1 million.

Mission Viejo, Calif.-based Telemynd is the result of a spin-off of assets following the completion of a merger between biopharmaceutical companies Emmaus Life Sciences Inc. and telepsychiatry services provider MYnd Analytics Inc.

Telemynd operates as a technology-enabled behavioral health company that provides telepsychiatry and teletherapy services in the U.S.

The company is led by CEO and Director Patrick Herguth, while Donald D'Ambrosio is CFO.

Telemynd is planning to offer 1.4 million common shares in the IPO and has granted the underwriters to buy up to an additional 210,000 common shares.

The company has filed applications to list its common stock on the Nasdaq stock market, under the symbol PSYC, and on the OTCQB market.

Telemynd intends to use the net proceeds for working capital and other general corporate purposes, which may include potential investments and acquisitions, though the company has no such commitments.

Aegis Capital Corp. is acting as an underwriter for the IPO.