Cibus prices 15.7M shares at $1.75 in public offering

Cibus (CBUS) announced the pricing of its previously announced public offering of 15,714,285 shares of its Class A Common Stock, at a purchase price of $1.75 per share, including to institutional and strategic investors, as well as the Chairman of Cibus’ board of directors. All of the shares of Class A Common Stock in the offering will be sold by Cibus. The gross proceeds of the offering are expected to be approximately $27.5M before deducting placement agent fees and other estimated offering expenses payable by the Company. The offering is expected to be closed on or about June 6, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to fund further development of the Company’s weed management productivity traits in Rice and for working capital and general corporate purposes, as it pursues longer-term financing. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.