Cibus (CBUS) said late Wednesday that it plans a public offering of Class A common stock and pre-funded warrants for select investors.
Underwriters have a 30-day option to purchase up to an additional 15% of the shares on the same terms, the company said.
Cibus plans to use the proceeds for working capital, general corporate purposes, and further development of weed management traits in rice.
Shares of the company fell 25% in after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.