SAN DIEGO, June 04, 2025 (GLOBE NEWSWIRE) -- Cibus, Inc. (CBUS) (the “Company” or “Cibus”), a leading agricultural biotechnology company that uses proprietary gene editing technologies to develop plant traits (or specific genetic characteristics) in seeds, today announced that it intends to offer shares of its Class A common stock (or common stock equivalents in lieu thereof) in a public offering. All of the securities to be sold in the offering are to be offered by Cibus. The Chairman of Cibus’ board of directors, Mr. Rory Riggs, has indicated an interest in purchasing up to $10.0 million of shares of Class A common stock and/or common stock equivalents in this offering. Because such an indication of interest is not a binding agreement or commitment to purchase, Mr. Riggs may elect not to purchase any shares in this offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
The Company currently intends to use the net proceeds from the offering to fund further development of the Company’s weed management productivity traits in Rice and for working capital and general corporate purposes, as it pursues longer-term financing.
The securities will be offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-273062), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 30, 2023, and declared effective by the SEC on October 27, 2023. A preliminary prospectus supplement will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus, when available, may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Cibus
Cibus is a leader in gene edited productivity traits that address critical productivity and sustainability challenges for farmers such as diseases and pests which the United Nations estimates cost the global economy approximately $300 billion annually. Cibus’ long-term focus is productivity traits for major, large-acreage row crops. Cibus is not a seed company. It is a technology company that uses proprietary high-throughput gene editing technology to develop crop traits at a fraction of the time and cost of conventional breeding and to license them to seed companies in exchange for royalties on seed sales.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as "estimates," "expects," "intends," "may," "will," or the negative of these terms and other similar terminology. Forward-looking statements in this press release include, but are not limited to, statements regarding the anticipated offering and the expected use of the proceeds from the offering. Completion of the offering is subject to numerous factors, many of which are beyond Cibus’ control, including, without limitation, market conditions, failure to satisfy customary closing conditions and the risk factors and other matters set forth in the prospectus supplement and accompanying prospectus included in the registration statement and the documents incorporated by reference therein. You are cautioned not to place undue reliance on any forward-looking statements, which are based only on currently available information, and speak only as of the date, such statement is made. Cibus does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by law.
CIBUS CONTACTS:
INVESTOR RELATIONS
Karen Troeber
ktroeber@cibus.com
858-450-2636
Jeff Sonnek – ICR
jeff.sonnek@icrinc.com
MEDIA RELATIONS
Colin Sanford
colin@bioscribe.com
203-918-4347
