Curis prices $8.5M private placement offering
- Curis (CRIS) announced on Friday the pricing of a private placement offering totalling about $8.5M.
- The company added that it has entered into securities purchase agreements with certain existing healthcare focused institutional investors for the purchase and sale of 16,666,680 shares of common stock and common warrants to purchase up to 16,666,680 shares of common stock at an effective combined price of $0.51 per share and accompanying common warrant.
- The common warrants have an exercise price of $0.60 per share and will be exercisable six months following their issuance and will expire five and a half years from the issuance date.
- The pre-funded warrants have an exercise price of $0.01 per share and will be exercisable immediately until exercised in full.
- The company has also agreed that certain existing January 2026 warrants to purchase up to 1,126,676 shares of common stock at an exercise price of $15 per share and all of the August 2026 warrants to purchase up to 3,733,334 shares of common stock at an exercise price of $1.75 per share will be amended such that the existing January 2026 and August 2026 warrants will have a reduced exercise price of $0.60 per share.
- The company intends to use the net proceeds of this offering to fund its research and development activities and for working capital and general corporate purposes.
- The ofering is expected to close on or about October 19, 2026.
- Source: Press Release
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