Cyabra Prices $6 Million Private Placement of Common Stock, Warrants
MT Newswires Live
Jul 09
Cyabra (CYAB) said Thursday that it has agreed to sell common stock and warrants in a private placement to raise $6 million.
The company will issue 13.8 million shares and an equal number of Series A and Series B warrants at a combined price of $0.435 each, the company said.
The Series A warrants carry a $0.50 exercise price for five years, while the Series B warrants feature a $0.45 exercise price for one year, Cyabra said.
The company expects the offering to close around Friday and plans to allocate the gross funds toward working capital and general corporate purposes, it said.
Shares of the company were down 9.5% in recent Thursday premarket activity.
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