Cibus Announces Registered Direct Offering of 2.1M Shares at $9.00/Share
Portfolio Pulse from Benzinga Newsdesk
Cibus, Inc. (NASDAQ:CBUS) has announced a registered direct offering of 2,106,723 shares of Class A Common Stock and Pre-Funded Warrants for 50,000 shares at $9.00 per share, with an exception for an executive officer who will purchase at $10.58 per share. The Pre-Funded Warrants are sold at $10.57 with an exercise price of $0.01 per share. The gross proceeds are expected to be approximately $20.3 million, which will fund the development of seed traits, Trait Machine maintenance, R&D, and general corporate purposes. The offering is set to close around December 14, 2023.
December 12, 2023 | 12:32 pm
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Cibus is conducting a direct offering of shares at a discount, which may dilute current shareholders but aims to raise funds for development and corporate needs.
The direct offering of shares typically leads to dilution of existing shareholders' equity, which can result in a negative short-term impact on the stock price. However, the capital raised is intended for development and growth, which could be positive in the long term.
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