San Diego-based Cibus Ltd, a provider of advanced plant-breeding technologies has priced its IPO of over 6.6 million shares at between $14 and $16 per share. The company plans on trading the stock on the NASDAQ under the ticker symbol “CBUS.” Morgan Stanley and BofA Merrill Lynch are the lead underwriters. The company’s backers include Fidelity Management and Research Company, Alexandria Venture Investments and Cormorant Asset Management.
SAN DIEGO, Feb. 4, 2019 /PRNewswire/ — Cibus Global, Ltd. (Cibus), a leader in advanced plant-breeding technologies, today announced the launch of its underwritten initial public offering (IPO) of 6,666,667 shares of its Class A common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). The IPO price is expected to be between $14.00 and $16.00 per share. Cibus has applied to list its Class A common stock on the Nasdaq Global Market under the trading symbol “CBUS.” Cibus will grant the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of Class A common stock to cover overallotments at the IPO price less underwriting discounts and commissions.
Cibus intends to use the net proceeds from the offering to fund research and development, to build its commercial capabilities and for working capital and general corporate purposes.
Morgan Stanley and BofA Merrill Lynch are acting as joint book-running managers for the offering, Piper Jaffray is acting as passive book-running manager and BMO Capital Markets is acting as co-manager.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 and BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, Third Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [email protected] You may also get a copy of the preliminary prospectus for free by visiting the SEC’s website at http://www.sec.gov.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.
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