FibroBiologics, Inc. announced the completion of a registered direct offering, generating approximately $1.7 million in gross proceeds.
The offering included the sale of 5,227,275 shares of common stock at $0.33 per share, along with unregistered warrants for the purchase of additional shares.
H.C. Wainwright & Co. served as the exclusive placement agent for the offering.
The company plans to utilize the net proceeds for working capital and general corporate purposes.
Offering Details
5,227,275 shares of common stock were sold at $0.33 per share, with a potential additional $1.7 million from unregistered warrants if fully exercised.
Proceeds Allocation
The net proceeds will be used for working capital and general corporate purposes, as per FibroBiologics' intent.
- The successful offering adds to FibroBiologics' funding pool, supporting its ongoing operations and research initiatives.
- This funding injection enhances the company's financial flexibility, potentially driving advancements in its development of therapeutics for chronic diseases.
FibroBiologics' successful completion of the registered direct offering marks a significant milestone in its fundraising efforts, providing essential capital for its strategic objectives and furthering its mission of developing breakthrough treatments for chronic diseases.