Cibus Prices 6.98 Million Share Offering at $2.15 to Raise $15M
Cibus is offering 6.98 million Class A shares at $2.15 each to raise about $15 million, or up to $17.2 million if overallotments are exercised. Net proceeds will support working capital, general corporate purposes and development of its rice weed-management traits.
1. Offering Terms
Cibus will sell 6,976,744 Class A Common Stock shares at $2.15 each and has granted the underwriter a 30-day option to purchase up to 1,046,511 additional shares for over-allotments.
2. Expected Proceeds
The offering should generate approximately $15 million in gross proceeds, or $17.2 million if the option is fully exercised, before deducting underwriting discounts, commissions and other estimated expenses.
3. Use of Proceeds
Net proceeds are earmarked for working capital, general corporate purposes and to advance development of Cibus’s weed-management traits in rice.
4. Underwriting and Closing Conditions
BTIG, LLC is acting as sole underwriter and expects the offering to close on March 27, 2026, subject to customary closing conditions.