BUZZ-Agritech co Cibus tumbles after announcing stock offering

Reuters

10 hours ago

** Agritech firm Cibus CBUS.O shares down ~20% in extended trading to $2.29 on planned equity raise news

** San Diego, California-based gene-editor announces offering comprising stock and pre-funded warrants without disclosing deal size

** It plans to use net offering proceeds for working capital and general purposes, including funding development of its weed management traits in rice

** BTIG sole underwriter

** Co has ~69.2 mln shares outstanding for nearly $200 mln market cap

** CBUS shares rose 5.9% to close at $2.87 on Weds, extending YTD gain to 65%

** 2 analysts rate the stock "buy", 1 rates "hold" with PTs of $3, $16 and $25, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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