CLXT - Calyxt under pressure on registered direct offering of common stock

Calyxt (CLXT) -13% premarket has entered into definitive agreements with institutional investors for the purchase and sale of 3.75M shares of shares, at a price of $4.00 per share, in a registered direct offering for gross proceeds of ~$15M.Cellectis S.A. (CMVLF), the Company’s majority shareholder, subscribed to purchase 1.25M shares in the offering. Net proceeds from this offering for general corporate purposes, including to advance its current product development pipeline, to continue to advance its TALEN® technology and its intellectual property portfolio, and to support the execution of its streamlined business model.The offering is expected to close by October 20.

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Calyxt under pressure on registered direct offering of common stock