Christian Angermayer

Founder of @ApeironInvests; $ATAI; @enhanced_games / $ENHA + others | Bullish on #psychedelics, $BTC, $XPL | Investing in biotech, crypto, tech, sports

[Christian Angermayer @C_Angermayer]

Today, the acquisition of @ataibeckley, the psychedelics biotech company I founded in 2017, by @EliLillyandCo for up to $ 3.8 billion closed, marking one of the largest biotech acquisitions of the year - and the largest transaction in the history of the psychedelic sector.

When I first started contemplating bringing psychedelics back into mainstream medicine in 2014 - which ultimately resulted in founding $CMPS and, shortly after, $ATAI in 2017 - it was widely seen as a crazy idea with virtually no chance of success. Looking back today, it is almost funny how quickly collective memory changes. Today, psychedelic medicine feels almost inevitable. Back then, it was anything but.

And I am very proud and satisfied that I was able to play the role of one of the lead evangelists of this new era of mental health treatments.

I expressed all my thoughts and feelings in the blog post I published on the day the acquisition was announced. Feel free to revisit it: https://t.co/CVHR0ULezg

But there is one point I want to emphasize especially today: I believe Lilly is the best partner we could have wished for.

Not only is Lilly the largest and most successful pharmaceutical company in the world, but throughout every interaction - both before and after signing - they have demonstrated a deep understanding of the importance of bringing these valuable therapeutics back into the medical world and making them available to patients as soon as possible.

As I wrote in my blog post: Psychedelics needed an evangelist ten years ago. Now it is all about commercialization. And I cannot think of a better rollout machine than Eli Lilly.

And, as you have probably already guessed, selling AtaiBeckley certainly does NOT mean that I will be stepping away from neuroscience - and especially not from psychedelics. 😉

I believe more strongly than ever that the brain and our consciousness represent humanity’s final frontier - and one we need to explore with urgency, particularly as increasingly capable, and potentially sentient and conscious, AI systems move closer to reality.

I have some major news coming over the next few weeks, which may blow your mind, so make sure you follow me and turn on notifications if you don’t want to miss what’s next.

[Christian Angermayer @C_Angermayer]

https://t.co/b4x7i8vnyv

[Christian Angermayer @C_Angermayer]

@chrispavlovski Amazing milestone! Congratulations 🥳

[Nathan @proofofnathan]

Feature by feature, Plasma will replace every other crypto and finance app you use.

[Plasma @Plasma]

Ethereum, Tron, Solana and more.

More ways to send money with Plasma One.

[Christian Angermayer @C_Angermayer]

I remain strongly bullish on copper.

Electrification, power grids and AI infrastructure all depend on it, while bringing new supply into production takes years.

That is why we backed @supercopperco and their main asset in Chile, a country with exceptional copper geology, established infrastructure and deep mining expertise.

Its first assay results from El Alto are a very encouraging step forward: copper mineralization in all four holes.

For an early-stage exploration investment, this is exactly the kind of progress I want to see: drilling confirms mineralization and gives the team clear targets to pursue. Deeper drilling is now underway, while Castilla adds a second opportunity for discovery.

Plenty to be excited about, even at this early stage. Proud to be an investor in $CUPR.CN

[Super Copper Corp. @supercopperco]

We are pleased to announce results from the first four holes ever drilled by Super Copper.

Copper in every hole: first assays return up to 2.56% CuEq. Open at depth.

Read more: https://t.co/DbU88nDQh8 $CUPR.CN

[Christian Angermayer @C_Angermayer]

Most of what we do at @ApeironInvests has one underlying theme: happiness.

Ultimately, I believe that being happy and making others happy is the true purpose of life. But in that order: to make others happy, you need to be happy yourself first.

Long before we pioneered psychedelics, and even before my own first psychedelic experience in 2014, I was already deeply intrigued by this topic – literally since childhood. In particular, I have always been fascinated by one question: Why are so few people in our world truly, deeply happy?

One of the earlier books I read and thoroughly enjoyed was "Hector and the Search for Happiness". I am particularly proud that I subsequently produced the movie adaptation, having been involved at every stage – from acquiring the rights and developing the script to producing the film - which starred Rosamund Pike and Simon Pegg. Still well worth watching!

With @ataibeckley, we then pioneered the medical side of happiness. We helped demonstrate that psychedelics – which were wrongly outlawed for far too long – can be powerful medicines for treating mental health conditions, particularly severe depression.

Our work of almost 10 years culminated this summer in the sale of AtaiBeckley to Eli Lilly for approximately $3.8 billion – not only further accelerating the commercialisation of these valuable substances, but also generating billions in value for my fellow shareholders - and hopefully making them very happy as a result 😉

Now, with $ENHA, we are approaching happiness from a more social and community-oriented perspective.

1st, I believe human connections make us happy.

Forget @Tinder and other dating apps. Forget the illusion of connection offered by "social" media – which should perhaps be called "anti-social" media instead, given how disconnected an entire generation has become despite being constantly online.

What reallybrings people together and creates lifelong bonds are shared experiences. I am sure everyone reading this remembers a concert, festival or sporting event they attended in their teens or twenties with their best friend – an experience that became a defining moment in their friendship. Those are the moments that matter. Those are the experiences that create memories and bonds that last a lifetime.

2nd, I believe feeling confident in our bodies makes us happy.

And to me, this is not about simplistic "body positivity". Body positivity should not mean lying to ourselves – being clinically obese is a massive health risk – or abandoning reason. It should mean supporting people on their journey to align their physical appearance with their personal goals and wellbeing.

That is what our telehealth business "Live Enhanced" offers.

And that is also what the @enhanced_games demonstrate: the positive power of medical performance-enhancing drugs.

With $ENHA's acquisition of DEAG, we are bringing the power of shared human experiences and the pursuit of personal self-improvement together under one roof.

And finally, I am pretty sure our “enhanced” Enhanced strategy will make $ENHA shareholders happy, too. 😉

[Christian Angermayer @C_Angermayer]

https://t.co/rwGl8Qu0xl

[Christian Angermayer @C_Angermayer]

I believe last week's announcement of the DEAG acquisition marks a transformative milestone for $ENHA

It positions Enhanced Group to enter a new phase of accelerated growth - not only by continuing to build the @enhanced_games franchise and the Live Enhanced telehealth business, but also by pursuing acquisitions of complementary sports and live entertainment businesses around the world, alongside synergistic, scalable commercialization platforms such as ticketing and direct-to-consumer brands.

The DEAG acquisition alone brings management's expected fully consolidated group revenues in 2027 to approximately $670 million, with expected EBITDA of approximately $26 million.

I firmly believe that sports and live entertainment are the flip side of AI.

The more AI and robotics transform our lives, the less human labour will be required. This should mean more free time - and, in turn, greater demand for real-life, shared human experiences. That's the macro trend we are positioning ourselves to capitalize on.

And this isn't just a belief I talk about. I put my money where my mouth is.

Through my family office, @ApeironInvests, I have personally invested so far approximately $50 million in $ENHA and a similar amount in DEAG. In other words, I have roughly $100 million of my own capital invested in the combined company.

[Christian Angermayer @C_Angermayer]

https://t.co/rwGl8Qu0xl

[Christian Angermayer @C_Angermayer]

Big milestone for our portfolio company, @uraniumdigital_!

Uranium Digital operates the world’s first institutional-grade, 24/7 spot market for uranium trading - bringing speed, efficiency and transparency to a market that, frankly, has remained bureaucratic and antiquated for far too long.

For more background, check out my blog post from last year:

https://t.co/dxGTzmA9HM

[Uranium Digital @uraniumdigital_]

Today we're excited to announce that Uranium Digital has closed a $16.5 million Series A. The round was led by @bcap, with participation from existing investors.

The investment will support the expansion of product offerings and technology, as we work to meet growing institutional demand for access to the uranium market.

Learn more at https://t.co/tcrANH088m

[Christian Angermayer @C_Angermayer]

Sorry to say, that's fearmongering BS. I wouldn't jump to conclusions if you can't even get the basic math right. And given that this appears to be AI-generated, it seems the AI apocalypse is still some way off - apparently, AI couldn't get the numbers right either.

To clarify the facts: the outstanding warrants are being adjusted in exercise price, NOT in number. There are only 1,285,341 warrants from the June PIPE still outstanding. Their exercise price will be adjusted to $7.11 per share upon closing of the DEAG acquisition.

As for dilution, it is not inherently bad, provided the value created more than compensates for the additional shares issued. Ultimately, what matters is not the percentage of the company one owns, but the value of one's stake.

Finally, I have personally - via my family office Apeiron - invested approximately $50 million in $ENHA and a similar amount in DEAG. In other words, I have roughly $100 million of my own capital invested in this story. I am therefore very much aligned with every other shareholder.

[Christian Angermayer @C_Angermayer]

Enhanced Group is aiming to enter hyper-growth mode - not only by continuing to build the @enhanced_games franchise and the Live Enhanced telehealth business, but also by acquiring complementary businesses around the world.

Going forward, $ENHA intends to harness radical innovation to transform sports, media, and entertainment across performance, technology, and live experiences.

The goal will be to build, acquire, and invest in high-potential businesses spanning sports and live entertainment, as well as scalable commercialization platforms such as ticketing, direct-to-consumer brands, and beyond.

Our mission is to build an integrated, innovation-driven platform for the next era of sports and live entertainment - creating enduring franchises, unlocking new revenue streams, and compounding long-term shareholder value through both organic growth and disciplined acquisitions.

The first acquisition, DEAG, brings management’s expected fully consolidated group revenues in 2027 to approx. $670 million, with an expected EBITDA in 2027 of approx $26 million.

[Christian Angermayer @C_Angermayer]

https://t.co/rwGl8Qu0xl

[Christian Angermayer @C_Angermayer]

@MikeTheTrader @CryptusBtc @enhanced_games And to put things even further into perspective: $ENHA actually traded higher on one of the worst days for the stock market since COVID... I would hope there is more price appreciation to come

[Christian Angermayer @C_Angermayer]

I understand your concern. However, I don't view dilution as inherently bad, as long as the value created more than compensates for the additional shares issued. Ultimately, what matters is not the percentage of the company you own, but the value of your stake.

Put simply: would you rather own a small stake in Apple or a large stake in your local telecom shop?

Take the DEAG acquisition as an example. IMHO $ENHA acquired DEAG at a very attractive valuation. Hence, using ENHA shares as currency for the acquisition therefore made perfect sense. The value of the combined company should be significantly higher, which should ultimately translate into a higher value per share.

Dilution is only destructive when the value created is lower than the value given up.

[Christian Angermayer @C_Angermayer]

@Dubbiosismo @0xmarceleth @grok yes

[Christian Angermayer @C_Angermayer]

My blog post on $ENHA’s acquisition of DEAG is also on Substack!

I’ll continue to share all my blog posts here on X, too.

The advantage of Substack, however, is that it actively sends you an email notification whenever I publish something new.

So I’d recommend either subscribing on Substack or turning on notifications here on X to make sure you don’t miss any important news. Or both. 😉

https://t.co/gGElX4cS16

[Daniel Newman @danielnewmanUV]

AI vs. the dot com bubble. One of these things is not like the other. 😑

[Christian Angermayer @C_Angermayer]

@MikeTheTrader @0xmarceleth @grok correct

[Christian Angermayer @C_Angermayer]

@sjdedic @lex_node You should play the game purely for the fun of it. When we first met at that conference, I immediately sensed that, deep down, you are a strong, independent woman of colour 😂 if they don't invest in you, they are blatantly racist

[Christian Angermayer @C_Angermayer]

No.
After the closing of the acquisition of 77% of DEAG - and accounting for the newly issued shares in the concurrent PIPE - Enhanced Group will have approx. 35.4 million shares outstanding on a fully diluted basis. Assuming a current share price of $8.17, this equals a valuation of approx $290 million for the combined group.
https://t.co/KFzUicMw88

[Christian Angermayer @C_Angermayer]

https://t.co/rwGl8Qu0xl