05:02 AM EDT, 09/18/2024 (MT Newswires) -- Cibus ( CBUS ) said late Tuesday it plans to offer class A common shares through an underwritten public offering, subject to market and other conditions.

The company said it expects to grant the underwriters a 45-day option to purchase up to an additional 15% of the shares under the offering. Cibus ( CBUS ) also said certain existing investors and Chief Executive Officer Rory Riggs have indicated interest to participate in the offering.

Cibus ( CBUS ) plans to use the proceeds for the development of its seed traits and for general working capital.