Cibus announces public offering of Class A common stock

Cibus, Inc. (NASDAQ: CBUS) announced plans for an underwritten public offering of Class A common stock. The agricultural technology company said it intends to offer shares with a par value of $0.0001 per share.

The company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the offered shares on the same terms and conditions. BTIG, LLC will serve as the sole underwriter for the offering.

Some members of Cibus' board of directors have indicated interest in purchasing shares in the offering, though these expressions of interest are not binding commitments.

Cibus stated it plans to use net proceeds for working capital and general corporate purposes, including funding development of weed management traits in rice and paying accrued professional expenses for advisory services.

The offering remains subject to market and other conditions. The company noted there is no assurance regarding whether or when the offering may be completed or the actual size or terms.

The securities will be offered under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on June 30, 2023, as amended on October 25, 2023, and declared effective on October 27, 2023.

Cibus develops and licenses plant traits to seed companies using gene-editing technologies. The San Diego-based company focuses on productivity traits for major global row crops and operates as a technology company rather than a seed company.

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