CBAY - CymaBay gains on pricing of $85.05M public offering

• CymaBay Therapeutics ( NASDAQ: CBAY ) announces the pricing the previously announced public offering of common stock and pre-funded warrants.
• The company to sell 10M shares of common stock and pre-funded warrants to purchase 2,142,857 shares of common stock in the offering.
• The shares of common stock are being sold at a public offering price of $7.00/share, and the pre-funded warrants are being sold at a public offering price of $6.9999/underlying share.
• The gross offering proceeds from this offering are expected to be ~$85.0M.
• The underwriters have been granted a 30-day option to purchase up to an aggregate of an additional 1,821,428 shares of its common stock.
• The net proceeds from the offering will be used to fund ongoing development of seladelpar, including clinical trials targeting market expansion, and for working capital and general corporate purposes.
• The offering is expected to close on January 26, 2023.

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