Core Viewpoint - FibroBiologics, Inc. has announced a definitive agreement for the issuance and sale of common stock and pre-funded warrants to an existing shareholder, aiming to strengthen its capital structure and support its pipeline of chronic disease therapeutics [1][2]. Financing Details - The company will issue 3,540,000 shares of common stock and pre-funded warrants to purchase 8,570,203 shares at a price of $0.3303 per share or warrant, totaling expected gross proceeds of approximately $4 million [1][5]. - The purchase price will be paid with sovereign-issued .9999 fine gold coins valued at $4,069.18 per ounce, which the company plans to liquidate into U.S. dollars [3]. Warrants and Stockholder Approval - In a concurrent private placement, unregistered warrants will be issued to purchase one share for each share or pre-funded warrant purchased, potentially allowing for an additional gross proceeds of approximately $4 million if exercised [4][5]. - The unregistered warrants will have an exercise price of $0.3303 per share and will require stockholder approval for the issuance of shares upon exercise [4]. Regulatory Compliance - The offering is being conducted under a shelf registration statement previously filed with the SEC, and the final prospectus supplement will be made available [6]. - The unregistered warrants are offered under Section 4(a)(2) of the Securities Act and have not been registered, limiting their sale in the U.S. [7]. Company Overview - FibroBiologics is a clinical-stage biotechnology company focused on developing therapeutics for chronic diseases using fibroblast cells, holding over 270 patents [10].
FibroBiologics Announces Pricing of $4 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules