SABS - SAB Biotherapeutics announces $7.9M private placement of stock
- SAB Biotherapeutics ( NASDAQ: SABS ) on Wednesday announced a private placement of ~7.3M shares and warrants to buy an equal number of shares for aggregate gross proceeds of ~$7.9M.
- Existing SAB ( SABS ) investors and new institutional investors participated in the private placement.
- The warrants will be exercisable starting six months from the date of issue and will be exercisable, in whole or in part, at an exercise price of $1.08/share.
- The warrants will expire five years from the date of issue.
- Net proceeds will be used to advance SAB's ( SABS ) pipeline of its first-in-class product candidates for Clostridioides difficile and type 1 diabetes, as well as for working capital.
- The private placement closed December 7.
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SAB Biotherapeutics announces $7.9M private placement of stock