FibroBiologics Closes $3 Million Private Placement With Up to $6 Million in Warrant Proceeds
Updated
Updated · BioSpace · Jun 30
FibroBiologics Closes $3 Million Private Placement With Up to $6 Million in Warrant Proceeds
1 articles · Updated · BioSpace · Jun 30
Summary
FibroBiologics said the financing delivered about $3.0 million in gross proceeds upfront and could bring in roughly $6.0 million more if all attached warrants are exercised for cash.
The deal covered 4,081,633 common shares or pre-funded warrants, plus matching Series A and short-term Series B warrants, all priced at $0.735 per share under Nasdaq at-the-market rules.
Those warrants become exercisable only after shareholder approval, with Series A expiring five years after the later approval or resale-registration effective date and Series B expiring after 18 months.
Houston-based FibroBiologics said it will use net proceeds for working capital and general corporate purposes as the clinical-stage biotech advances fibroblast-based therapies for chronic diseases.