Cibus, Inc. announced it has entered into securities purchase agreements for a registered direct offering, expected to generate approximately $22.6 million in gross proceeds. The offering includes 9,040,000 shares of Class A Common Stock (inclusive of pre-funded warrants) and warrants to purchase an equal number of shares, priced at $2.50 per share and accompanying warrant.
Existing institutional and strategic investors, including CEO Rory Riggs, participated in the offering. The warrants will be exercisable upon stockholder approval at $2.50 per share and expire five years after approval.
The company intends to use the net proceeds to fund further development of its pipeline of productivity traits and for working capital and general corporate purposes. The offering is expected to close around January 24, 2025, subject to customary closing conditions.
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