Why Cibus (CBUS) Stock Is Down 21% Wednesday
Portfolio Pulse from Henry Khederian
Cibus Inc (NASDAQ:CBUS) shares fell 27% to $3.69 after announcing a $12 million offering of 3 million shares at $4.00 each. The offering, managed by Roth Capital Partners and A.G.P./Alliance Global Partners, is expected to close on September 19, 2024. Proceeds will be used for seed trait development and general corporate purposes.
September 18, 2024 | 2:26 pm
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Cibus Inc's stock dropped 27% following the announcement of a $12 million share offering at $4.00 per share. The offering is expected to close on September 19, 2024, and proceeds will be used for seed trait development and general corporate purposes.
The significant drop in Cibus's stock price is directly linked to the announcement of a new share offering, which typically dilutes existing shares and can lead to a decrease in stock value. The offering price of $4.00 is above the current trading price, indicating potential investor concern about dilution and future performance.
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