San Diego, California, USA
September 18, 2024
Cibus, Inc. (Nasdaq: CBUS) (the “Company” or “Cibus”), a leading agricultural biotechnology company that uses proprietary gene editing technologies to develop plant traits (or specific genetic characteristics) in seeds, today announced the pricing of an underwritten public offering of 3,000,000 shares of its Class A Common Stock, par value $0.0001 per share (“Class A Common Stock”) at a public offering price of $4.00 per share. The Company has granted the underwriters a 45-day option to purchase an additional 450,000 shares of Class A Common Stock to cover over-allotments, if any. All shares of Class A Common Stock to be sold in the offering are to be sold by the Company.
The gross proceeds of the offering will be approximately $12.0 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The offering is expected to close on September 19, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to fund further development of new and improvement of existing seed traits, Trait Machine operations, and for working capital and general corporate purposes.
Roth Capital Partners and A.G.P./Alliance Global Partners are acting as joint book-running managers for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-273062), including a base prospectus, previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on October 27, 2023. A prospectus supplement describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from Roth Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach, CA 92660, (800) 678-9147, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by telephone at (212) 624-2060, or by email at prospectus@allianceg.com, or by accessing the SEC’s website, www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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