Cibus slides on stock offering plans

Cibus

18/09/2024 12:19

** Agricultural biotechnology co Cibus  CBUS.O  slides 17.2% to
$4.19 premarket
** Says it intends to offer Class A shares
    ** Adds CEO Rory Riggs and other investors showed interest
in buying the offered shares, without disclosing the size of the
proposed public offering
    ** 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, stock down ~74% YTD

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