Cibus Inc. (NASDAQ:CBUS) Public Offering Priced at $4.00 per Share - Details Revealed!
In a groundbreaking move, Cibus Inc. (NASDAQ:CBUS), a leading player in agricultural biotechnology, has unveiled its public offering at an impressive $4.00 per share. The offering comprises 3 million shares of Class A Common Stock with a par value of $0.0001, with an additional provision allowing underwriters to acquire up to 450,000 extra shares to cover any over-allotments.
The estimated gross proceeds from the offering are set to hit around $12 million, before factoring in underwriting discounts, commissions, and other associated offering expenses. The closing of the offering is scheduled for September 19, 2024, pending standard closing conditions.
Cibus has earmarked the net proceeds from the offering for the advancement of new and existing seed traits, support for Trait Machine operations, and general corporate purposes, including working capital. Noteworthy names like Roth Capital Partners and A.G.P./Alliance Global Partners are on board as joint book-running managers for this exciting offering.
This move follows the approval of an effective shelf registration statement on Form S-3 by the U.S. Securities and Exchange Commission (SEC) back on October 27, 2023. A prospectus supplement outlining the specifics of the offering will soon be filed with the SEC.
Cibus stands out by utilizing its proprietary gene editing technology to develop plant traits, which are then licensed to seed companies for royalties. With a strategic focus on enhancing productivity traits for major row crops like canola, rice, soybean, corn, and wheat, Cibus is addressing critical challenges that cost the global economy an estimated $300 billion annually.
In a nutshell, Cibus Inc. is making waves with its latest public offering, signaling a significant step forward in its mission to revolutionize agricultural biotechnology. Stay tuned for more updates on this exciting development!
Analysis:
Cibus Inc.'s public offering at $4.00 per share signifies a major move in the agricultural biotechnology sector. With an estimated gross proceeds of $12 million, the company is set to accelerate the development of seed traits and enhance its operations. This offering, coupled with its strategic focus on addressing key challenges in the industry, positions Cibus as a key player in the global economy. Investors should keep a close eye on Cibus's progress, as it has the potential for substantial gains in the future.