Cibus Launches $13 Million Registered Direct Offering

JUNE 13, 2024

The crop trait development company Cibus has announced a registered direct offering, through which the company expects to receive approximately $13.0 million in gross proceeds. Cibus intends to use the net proceeds from the offering to fund further development of new and existing seed traits, and to fund operations at the company’s Trait Machine end-to-end gene editing facility (see AgbioNews Jul 13, 2023). Cibus has agreed to sell 1,298,040 shares of its Class A Common Stock for an offering price of $10.00 per share, except for shares of Class A Common Stock purchased by the company's CEO, which will have an offering price of $10.20 per share.