Core Viewpoint - Cibus, Inc. has announced a registered direct offering of 1,298,040 shares of Class A Common Stock and warrants, aiming to raise approximately $13.0 million to fund the development of new seed traits and for general corporate purposes [1][6]. Group 1: Offering Details - The offering includes 1,298,040 shares of Class A Common Stock at a price of $10.00 per share for institutional investors and $10.20 for the CEO, Rory Riggs [1]. - The warrants are exercisable immediately at a price of $10.00 per share, with a different initial exercise price of $10.07 for Mr. Riggs, and will expire five years after issuance [1]. - The gross proceeds from the offering are expected to be approximately $13.0 million before deducting fees and expenses [6]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to fund the development of new and existing seed traits, Trait Machine operations, and for working capital and general corporate purposes [6]. Group 3: Company Overview - Cibus is a leader in agricultural biotechnology, focusing on gene editing technologies to develop plant traits for major global crops such as canola, corn, rice, soybean, and wheat [8]. - The company is not a seed company but a technology company that licenses traits to seed companies in exchange for royalties [8]. - Cibus has developed a pipeline of five productivity traits, including Pod Shatter Reduction and Sclerotinia resistance, with some traits in commercial development with leading seed companies [8].
Cibus Announces $13.0 Million Registered Direct Offering