Cibus, Inc. announced the pricing of an underwritten public offering of 3,000,000 shares of its Class A Common Stock at a public offering price of $4.00 per share. The company also granted underwriters a 45-day option to purchase an additional 450,000 shares to cover over-allotments.
The gross proceeds from this offering are expected to be approximately $12.0 million before deducting underwriting discounts and other estimated offering expenses. All shares in the offering are being sold by Cibus.
Cibus intends to use the net proceeds to fund further development of new and existing seed traits, support Trait Machine operations, and for working capital and general corporate purposes. The offering is expected to close on September 19, 2024, subject to customary closing conditions.
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