Nov. 7 at 5:08 PM
Bioharvest Sciences Inc shares dropped on Friday after the company announced the pricing of a subscribed public offering of 2,485,000 common shares at
$7.00 per share.
The botanical synthesis technology company expects to raise approximately
$17.4 million in gross proceeds from the offering, before deducting underwriting discounts and other expenses. The company also granted the underwriters a 30-day option to purchase up to 372,750 additional shares at the public offering price.
Craig-Hallum is acting as the sole manager of the offering, which is expected to close around November 10, 2025, subject to customary conditions.
Bioharvest plans to use the net proceeds for several purposes, including research and development, manufacturing, marketing, advancing its CDMO business unit, debt reduction or refinancing, capital expenditures, and general corporate purposes, including working capital.
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