SAN DIEGO, June 12, 2024 (GLOBE NEWSWIRE) -- Cibus, Inc. (NASDAQ: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 it has entered into securities purchase agreements with institutional, strategic and existing investors of the Company, as well as with the Company's CEO, Rory Riggs, for the purchase and sale of 1,298,040 shares of its Class A Common Stock, par value $0.0001 per share, and warrants to purchase up to an aggregate of 1,298,040 shares of Class A Common Stock, at a combined purchase price per share (and accompanying warrant) of $10.00 for the institutional, strategic and existing investors and $10.20 for the Company's CEO, pursuant to a registered direct offering. The warrants will be exercisable immediately at a price of $10.00 per share, except that the warrants issued to Mr. Riggs will have an initial exercise price of $10.07 per share, and will, in each case, expire five years following the date of issuance. The warrants, however, will be redeemable, at the Company's option, at a redemption price of $0.0001 per warrant following the Company's public announcement of an operational soybean platform and the satisfaction of a trading price condition. The gross proceeds of the offering will be approximately $13.0 million before deducting placement agent fees and other estimated offering expenses. The closing of the offering is expected to take place on or about June 13, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to fund further ...