FibroBiologics, Inc. has revealed a registered direct offering priced at-the-market under Nasdaq rules.
The offering includes the sale of 5,227,275 shares of common stock at $0.33 per share.
Additionally, the company will issue unregistered warrants to purchase the same number of shares at the same price.
The aggregate gross proceeds to FibroBiologics from the offering are anticipated to reach around $1.7 million.
Offering Details
5,227,275 shares of common stock are being offered at $0.33 per share along with corresponding unregistered warrants.
Utilization of Proceeds
The net proceeds from the offering will be utilized for working capital and general corporate purposes.
Placement Agent
H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering.
- The offering is structured to generate significant proceeds for FibroBiologics, boosting its financial resources for operational needs and potential growth initiatives.
FibroBiologics' decision to conduct the registered direct offering signifies a strategic financing move to enhance its liquidity and support ongoing and future endeavors in the field of therapeutics and potential cures for chronic diseases.