FibroBiologics Issues 4.08 Million Shares at $0.735 Each

FibroBiologics announced that it has entered into definitive agreements for the purchase and sale of an aggregate of 4,081,633 shares of common stock, series A warrants to purchase up to 4,081,633 shares of common stock and short-term series B warrants to purchase up to 4,081,633 shares of common stock at a purchase price of 73.5c per share of common stock and accompanying warrants in a private placement priced at-the-market under Nasdaq rules. The series A warrants and the short-term series B warrants will have an exercise price of 73.5c per share and will be exercisable on or after the effective date of stockholder approval of the issuance of the shares of common stock upon exercise of the warrants. The series A warrants will expire five years from the later of the Stockholder Approval Date and the effective date of the resale registration statement registering the shares of common stock issuable upon exercise of the series warrants, and the short-term series B warrants will expire eighteen months from the later of the Stockholder Approval Date and the Effective Date. The private placement is expected to close on or about June 29, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $3M, before deducting placement agent's fees and other offering expenses payable by the company. The potential additional gross proceeds to the company from the series A and series B warrants, if fully exercised on a cash basis, will be approximately $6M. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.