Core Viewpoint - Cibus, Inc. has announced a public offering of 15,714,285 shares of its Class A Common Stock at a price of $1.75 per share, aiming to raise approximately $27.5 million for further development and working capital [1][2]. Company Overview - Cibus is a leading agricultural biotechnology company specializing in gene editing technologies to develop plant traits in seeds, focusing on productivity traits for major crops [6]. - The company addresses significant agricultural challenges, including diseases and pests, which the United Nations estimates cost the global economy around $300 billion annually [6]. - Cibus operates as a technology company rather than a seed company, licensing its developed traits to seed companies for royalties on seed sales [6]. Offering Details - The offering consists solely of shares sold by Cibus, with gross proceeds expected to be approximately $27.5 million before expenses [2]. - The offering is anticipated to close on or about June 6, 2025, pending customary closing conditions [2]. - A.G.P./Alliance Global Partners is acting as the sole placement agent for this offering [3]. Use of Proceeds - The net proceeds from the offering will be utilized to fund the development of weed management productivity traits in rice and for general corporate purposes [2]. Regulatory Information - The offering is made under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission, with a prospectus supplement to be filed [4].
Cibus, Inc. Announces Pricing of $27.5 Million Public Offering