SCHEDULE: Millennium Management Reduces Cybin Stake Below 5%

Millennium Management LLC and affiliates reported a decrease in their beneficial ownership of Cybin Inc. common shares to 4.8%.

Summary

• Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander are the reporting persons.
• The filing pertains to Common Shares, no par value, of Cybin Inc. (CUSIP: 23256X407).
• The reporting persons collectively beneficially own 2,397,721 common shares of Cybin Inc.
• This aggregate amount represents 4.8% of the class of outstanding common shares.
• All reported shares are held with shared voting power and shared dispositive power.
• The event requiring this filing occurred on March 19, 2026, when the reporting persons acquired beneficial ownership of more than 5% of the outstanding Common Shares.
• By the date of this filing, the reporting persons ceased to be beneficial owners of more than 5% of the outstanding Common Shares.
• The securities were not acquired or held for the purpose of changing or influencing the control of Cybin Inc.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a slightly negative signal due to the reduction in institutional ownership below the 5% threshold, which could imply a decrease in investor confidence or a portfolio reallocation by a major fund.

Positives

• The reporting persons certified that the securities were not acquired or held for the purpose of changing or influencing control of Cybin Inc., indicating a passive investment stance.

Negatives

• Millennium Management LLC and its affiliates have reduced their beneficial ownership in Cybin Inc. to below the 5% reporting threshold, now holding 4.8% of the common shares.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding Cybin Inc.'s future outlook, as it is a disclosure of beneficial ownership by an institutional investor.

Management Comments

• The reporting persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

StockSavvy.ai notes that institutional ownership changes, particularly from significant hedge funds like Millennium Management, are closely watched by the market. A reduction below the 5% threshold, while a standard disclosure, can sometimes signal a shift in investment strategy or a re-evaluation of the company's prospects relative to other opportunities, though the filing itself provides no specific rationale.

Stakeholder Impact

• Shareholders: May interpret the reduction in institutional ownership as a negative signal, potentially influencing market sentiment and share price.

Key Dates

Recommendation

The filing indicates a reduction in a significant institutional investor's stake below the 5% threshold. While this is a passive filing and does not provide a rationale, a decrease in institutional ownership can be perceived negatively by the market. However, without further fundamental information about Cybin Inc. or the investor's specific reasons, a 'hold' recommendation is prudent, suggesting investors monitor future developments.

Keywords

Cybin Inc., CYBN, Millennium Management LLC, Israel A. Englander, Schedule 13G, beneficial ownership, institutional ownership, stake reduction