GRI Bio Announces Pricing Of $4M Public Offering; Potential Additional Gross Proceeds To The Co From The Series Warrants, If Fully Exercised On A Cash Basis, Will Be ~$8M

GRI Bio, Inc. (NASDAQ:GRI) ("GRI Bio" or the "Company"), a biotechnology company advancing an innovative pipeline of Natural Killer T ("NKT") cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced the pricing of a public offering of an aggregate of 2,185,793 shares of its common stock (or common stock equivalents in lieu thereof), Series C-1 warrants to purchase up to 2,185,793 shares of common stock and Series C-2 warrants to purchase up to 2,185,793 shares of common stock (all the warrants, collectively, the "Series Warrants"), at a combined public offering price of $1.83 per share (or per common stock equivalent in lieu thereof) and accompanying Series Warrants. The Series Warrants will have an exercise price of $1.83 per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Series Warrants. The Series C-1 warrants will expire on the five-year anniversary of the initial exercise date. The Series C-2 warrants will expire on the eighteen month anniversary of the initial exercise date. The closing of the offering is expected to occur on or about June 28, 2024, subject to the satisfaction of customary closing conditions.

 

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.