Biora to sell 745,342 shares at $4.025 in registered direct offering

Biora Therapeutics (BIOR) entered into definitive agreements for the purchase and sale of 745,342 shares of the Company’s common stock at an offering price of $4.025 per share of common stock in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered warrants to purchase up to 745,342 shares of common stock. The warrants have an exercise price of $3.90 per share, will be exercisable upon issuance, and will expire five years following issuance. The closing of the offering is expected to occur on or about October 29, 2024, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to Biora from this offering are expected to be approximately $3 million, before deducting the placement agent’s fees and other offering expenses. Biora intends to use the net proceeds from this offering to support its operations, make further investments in the development of its oral biotherapeutics platforms, and for working capital and general corporate purposes.