Cibus slides after $12 mln stock offering

Cibus

18/09/2024 16:34

(Updates)
    ** Shares of agricultural biotechnology firm Cibus  CBUS.O 
fall as much as 28.7%, last down 25.3% at $3.78
    ** San Diego-based firm prices public offering of 3 mln
Class A shares priced at $4 per share for $12 mln gross proceeds
    ** Offering priced at 21% discount to stock's last closing
price
    ** CEO Rory Riggs and other investors had shown interest in
buying the offered shares
    ** Proceeds will be used to improve existing seed traits and
develop new ones - CBUS
    ** Co has 26.2 mln outstanding shares, giving it ~132.6 mln
market cap - LSEG
    ** As of last close, CBUS stock down ~74% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))