SAB BIO Announces Pricing of $85 Million Public Offering of Common Stock and Pre-Funded Warrants

Core Viewpoint - SAB Biotherapeutics, Inc. has announced a public offering of 19,324,677 shares at a price of $3.85 per share, aiming to raise approximately $85 million for the development of its clinical-stage product candidate, SAB-142, targeting type 1 diabetes and other autoimmune diseases [1][2]. Group 1: Offering Details - The public offering includes pre-funded warrants to purchase up to 2,753,246 shares at a price of $3.8499 per warrant, with gross proceeds expected to be around $85 million before expenses [1]. - The underwriters have a 30-day option to purchase an additional 3,311,688 shares under the same terms [1]. - The offering is expected to close on or about March 19, 2026, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to fund the continued development of SAB-142 through clinical trials, as well as for manufacturing, regulatory, operational activities, and general corporate purposes [2]. Group 3: Management and Regulatory Information - Jefferies, UBS Investment Bank, Citigroup, and Barclays are acting as joint book-running managers for the offering, with Chardan as the lead manager [3]. - The offering is made under a shelf registration statement filed with the SEC, and a final prospectus supplement will be available on the SEC's website [4]. Group 4: Company Overview - SAB Biotherapeutics is focused on developing human immunoglobulin G (hIgG) to treat immune and autoimmune disorders, utilizing advanced genetic engineering and antibody science [6]. - The lead candidate, SAB-142, aims to modify the treatment paradigm for type 1 diabetes by delaying onset and potentially preventing disease progression in Stage 3 patients [6].