Rapid Micro Biosystems Prices Offering for $9.8M Gross Proceeds
Rapid Micro Biosystems, Inc. announced the pricing of an underwritten offering of 3,581,000 shares of Class A common stock and accompanying Series A and Series B warrants, along with pre-funded warrants for certain investors. The combined offering price for common stock and warrants is $1.955, while for pre-funded warrants and warrants it is $1.945. Existing investor Bain Capital Life Sciences and Armistice Capital LLC are participating in the offering. Additionally, the company entered into a concurrent registered direct offering with officers and directors for 71,607 shares and accompanying warrants. The gross proceeds from both offerings are expected to be approximately $9.8 million, with potential for an additional $21.7 million if all warrants are exercised.
Key Highlights
- Rapid Micro Biosystems priced an underwritten offering of 3,581,000 shares of Class A common stock and accompanying Series A and B warrants.
- The offering also includes pre-funded warrants for up to 1,463,000 shares for certain investors.
- Combined offering price for common stock and warrants is $1.955; for pre-funded warrants and warrants is $1.945.
- Series A warrants have an exercise price of $1.955, exercisable in 6 months, expiring in 1 year.
- Series B warrants have an exercise price of $2.34, exercisable in 6 months, expiring in 5 years.
- Existing investor Bain Capital Life Sciences and Armistice Capital LLC are participating.
- A concurrent registered direct offering involves officers and directors purchasing 71,607 shares and accompanying warrants at $1.955.
- Gross proceeds from both offerings are expected to be approximately $9.8 million, with an additional $21.7 million if all warrants are exercised in cash.
Price Impact
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