GRI Bio, a biotechnology company, closed a public offering of 10,666,667 shares of its common stock at $0.75 per share.
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering, leading to approximately $8.0 million in gross proceeds for GRI Bio.
The Company intends to use the net proceeds for product candidate development, working capital, and general corporate purposes.
Public Offering Details
10,666,667 shares of common stock sold at $0.75 per share with Series F Warrants for additional gross proceeds.
Exercisable Warrants
Series F Warrants have an exercise price of $0.75 per share and will expire on the fifth anniversary of issuance.
Use of Proceeds
Net proceeds from the offering to be used for product development and general company purposes.
- GRI Bio aims to advance its pipeline of NKT cell modulators for treating inflammatory, fibrotic, and autoimmune diseases with the newly acquired funds.
- The successful closing of the public offering signals investor confidence in GRI Bio's innovative therapies focused on NKT cell activity.
GRI Bio, with the support of the public offering, is poised to further its development of therapies targeting inflammatory, fibrotic, and autoimmune diseases.