STOCK TITAN

GRI Bio Announces Closing of $5.0 Million Public Offering

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags

GRI Bio (NASDAQ: GRI) has successfully closed its previously announced public offering, raising $5.0 million in gross proceeds. The offering included 1,388,888 shares of common stock along with three series of warrants (E-1, E-2, and E-3) at a combined price of $3.60 per share.

The warrants, exercisable immediately at $3.20 per share, have varying expiration periods: Series E-1 expires in 5 years, Series E-2 in 18 months, and Series E-3 in 9 months. If fully exercised, these warrants could generate additional gross proceeds of $13.3 million.

H.C. Wainwright & Co. served as the exclusive placement agent. The biotechnology company, focused on developing Natural Killer T cell modulators for inflammatory, fibrotic and autoimmune diseases, plans to use the net proceeds for product candidate development, working capital, and general corporate purposes.

GRI Bio (NASDAQ: GRI) ha concluso con successo la sua offerta pubblica precedentemente annunciata, raccogliendo 5,0 milioni di dollari in proventi lordi. L'offerta includeva 1.388.888 azioni ordinarie insieme a tre serie di warrant (E-1, E-2 ed E-3) a un prezzo combinato di 3,60 dollari per azione.

I warrant, esercitabili immediatamente a 3,20 dollari per azione, hanno scadenze variabili: la serie E-1 scade in 5 anni, la serie E-2 in 18 mesi e la serie E-3 in 9 mesi. Se completamente esercitati, questi warrant potrebbero generare ulteriori proventi lordi di 13,3 milioni di dollari.

H.C. Wainwright & Co. ha svolto il ruolo di agente di collocamento esclusivo. L'azienda biotecnologica, focalizzata sullo sviluppo di modulatori delle cellule T Natural Killer per malattie infiammatorie, fibrotiche e autoimmuni, prevede di utilizzare i proventi netti per lo sviluppo di candidati a prodotti, capitale circolante e scopi aziendali generali.

GRI Bio (NASDAQ: GRI) ha cerrado con éxito su oferta pública previamente anunciada, recaudando 5.0 millones de dólares en ingresos brutos. La oferta incluyó 1,388,888 acciones ordinarias junto con tres series de warrants (E-1, E-2 y E-3) a un precio combinado de 3.60 dólares por acción.

Los warrants, ejercitables de inmediato a 3.20 dólares por acción, tienen diferentes períodos de vencimiento: la serie E-1 vence en 5 años, la serie E-2 en 18 meses y la serie E-3 en 9 meses. Si se ejercen completamente, estos warrants podrían generar ingresos brutos adicionales de 13.3 millones de dólares.

H.C. Wainwright & Co. actuó como el agente de colocación exclusivo. La empresa biotecnológica, centrada en el desarrollo de moduladores de células T asesinas naturales para enfermedades inflamatorias, fibróticas y autoinmunes, planea utilizar los ingresos netos para el desarrollo de candidatos a productos, capital de trabajo y fines corporativos generales.

GRI Bio (NASDAQ: GRI)는 이전에 발표된 공모를 성공적으로 마감하였으며, 500만 달러의 총 수익을 올렸습니다. 이번 공모에는 1,388,888주의 보통주와 함께 세 가지 시리즈의 워런트(E-1, E-2, E-3)가 포함되어 있으며, 총 가격은 주당 3.60달러입니다.

워런트는 즉시 주당 3.20달러에 행사할 수 있으며, 만료 기간은 다릅니다: E-1 시리즈는 5년 후 만료되고, E-2는 18개월, E-3은 9개월 후 만료됩니다. 만약 전량이 행사된다면, 이 워런트는 추가로 1,330만 달러의 총 수익을 생성할 수 있습니다.

H.C. Wainwright & Co.는 독점적인 배치 에이전트로 활동했습니다. 염증성, 섬유성 및 자가면역 질환을 위한 자연 살해 T 세포 조절제를 개발하는 데 집중하는 생명공학 회사는 순수익을 제품 후보 개발, 운영 자본 및 일반 기업 목적에 사용할 계획입니다.

GRI Bio (NASDAQ: GRI) a réussi à clôturer son offre publique précédemment annoncée, levant 5,0 millions de dollars de produits bruts. L'offre comprenait 1 388 888 actions ordinaires ainsi que trois séries de bons de souscription (E-1, E-2 et E-3) à un prix combiné de 3,60 dollars par action.

Les bons de souscription, exerçables immédiatement à 3,20 dollars par action, ont des périodes d'expiration variées : la série E-1 expire dans 5 ans, la série E-2 dans 18 mois et la série E-3 dans 9 mois. Si tous sont exercés, ces bons de souscription pourraient générer des produits bruts supplémentaires de 13,3 millions de dollars.

H.C. Wainwright & Co. a agi en tant qu'agent de placement exclusif. L'entreprise biotechnologique, axée sur le développement de modulateurs de cellules T tueuses naturelles pour les maladies inflammatoires, fibreuses et auto-immunes, prévoit d'utiliser les produits nets pour le développement de candidats à des produits, le fonds de roulement et des fins d'entreprise générales.

GRI Bio (NASDAQ: GRI) hat erfolgreich sein zuvor angekündigtes öffentliches Angebot abgeschlossen und 5,0 Millionen Dollar an Bruttoerlösen gesammelt. Das Angebot umfasste 1.388.888 Stammaktien sowie drei Serien von Warrants (E-1, E-2 und E-3) zu einem Gesamtpreis von 3,60 Dollar pro Aktie.

Die Warrants, die sofort zu 3,20 Dollar pro Aktie ausgeübt werden können, haben unterschiedliche Ablaufzeiten: Serie E-1 läuft in 5 Jahren ab, Serie E-2 in 18 Monaten und Serie E-3 in 9 Monaten. Wenn sie vollständig ausgeübt werden, könnten diese Warrants zusätzliche Bruttoerlöse von 13,3 Millionen Dollar generieren.

H.C. Wainwright & Co. fungierte als exklusiver Platzierungsagent. Das biotechnologische Unternehmen, das sich auf die Entwicklung von Modulatoren für natürliche Killer-T-Zellen zur Behandlung von entzündlichen, fibrotischen und Autoimmunerkrankungen konzentriert, plant, die Nettomittel für die Entwicklung von Produktkandidaten, Betriebskapital und allgemeine Unternehmenszwecke zu verwenden.

Positive
  • Secured immediate funding of $5.0 million through public offering
  • Potential additional funding of $13.3 million through warrant exercises
  • Multiple warrant series provide flexible funding options over different timeframes
Negative
  • Dilutive effect on existing shareholders through issuance of new shares
  • Offering price of $3.60 and warrant exercise price of $3.20 may indicate pricing pressure
  • No guarantee that warrants will be exercised for additional funding

Insights

GRI Bio's $5 million public offering represents a significant capital raise for this small-cap biotech company developing NKT cell modulators. The offering structure includes 1,388,888 shares (or equivalents) with three series of warrants at a combined price of $3.60 per share, notably at a 78% premium to the current share price of $2.02.

This financing provides crucial runway for GRI's development programs, but comes with substantial dilution. Based on the company's $1.16 million market cap, this offering more than quadruples the company's equity value while potentially more than doubling the share count. The warrant structure (9-month, 18-month, and 5-year expirations with $3.20 exercise prices) could bring an additional $13.3 million if exercised, though this remains uncertain given the exercise price is 58% above current trading levels.

For small biotechs with revenue, securing capital is essential for program advancement. The premium pricing suggests institutional confidence in GRI's pipeline potential, though investors should note the significant dilution. The proceeds directed toward product candidate development could accelerate their inflammatory and autoimmune disease programs, potentially creating value inflection points that justify the dilution.

LA JOLLA, CA, April 02, 2025 (GLOBE NEWSWIRE) -- 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 closing of its previously announced public offering of an aggregate of 1,388,888 shares of its common stock (or common stock equivalents in lieu thereof), Series E-1 warrants to purchase up to 1,388,888 shares of common stock, short-term Series E-2 warrants to purchase up to 1,388,888 shares of common stock and short-term Series E-3 warrants to purchase up to 1,388,888 shares of common stock (all the warrants, collectively, the "Series Warrants"), at a combined public offering price of $3.60 per share (or per common stock equivalent in lieu thereof) and accompanying Series Warrants. The Series Warrants have an exercise price of $3.20 per share and are exercisable immediately upon issuance. The Series E-1 warrants expire on the five-year anniversary of the initial issuance date. The short-term Series E-2 warrants expire on the eighteen-month anniversary of the initial issuance date. The short-term Series E-3 warrants expire on the nine-month anniversary of the initial issuance date.

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

The aggregate gross proceeds to the Company from the offering were approximately $5.0 million before deducting the placement agent's fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the Series Warrants, if fully exercised on a cash basis, will be approximately $13.3 million. No assurance can be given that any of the Series Warrants will be exercised. The Company intends to use the net proceeds from this offering for its product candidate development, working capital and general corporate purposes.

The securities described above were offered pursuant to a registration statement on Form S-1 (File No. 333-286072), as amended, which was declared effective by the Securities and Exchange Commission (the "SEC") on April 1, 2025. The offering was made only by means of a prospectus forming part of the effective registration statement relating to the offering. Electronic copies of the final prospectus may be obtained on the SEC's website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About GRI Bio, Inc.

GRI Bio is a clinical-stage biopharmaceutical company focused on fundamentally changing the way inflammatory, fibrotic and autoimmune diseases are treated. GRI Bio’s therapies are designed to target the activity of NKT cells, which are key regulators earlier in the inflammatory cascade, to interrupt disease progression and restore the immune system to homeostasis. NKT cells are innate-like T cells that share properties of both NK and T cells and are a functional link between the innate and adaptive immune responses. Type I invariant NKT (“iNKT”) cells play a critical role in propagating the injury, inflammatory response, and fibrosis observed in inflammatory and fibrotic indications. GRI Bio’s lead program, GRI-0621, is an inhibitor of iNKT cell activity and is being developed as a novel oral therapeutic for the treatment of idiopathic pulmonary fibrosis, a serious disease with significant unmet need. The Company is also developing a pipeline of novel type 2 diverse NKT agonists for the treatment of systemic lupus erythematosus. Additionally, with a library of over 500 proprietary compounds, GRI Bio has the ability to fuel a growing pipeline.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions. These forward-looking statements are based on the Company’s current beliefs and expectations. Forward-looking statements include, but are not limited to, statements regarding: the anticipated use of proceeds from the offering; the exercise of the Series Warrants prior to their expiration; the Company’s ability to maintain compliance with the Nasdaq listing requirements; the Company’s expectations with respect to development and commercialization of the Company’s product candidates; the timing of initiation or completion of clinical trials and availability of resulting data, the potential benefits and impact of the Company’s clinical trials and product candidates and any implication that the data or results observed in preclinical trials or earlier studies or trials will be indicative of results of later studies or clinical trials. Actual results may differ from the forward-looking statements expressed by the Company in this press release and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including, without limitation: (1) market and other conditions; (2) the inability to maintain the listing of the Company’s common stock on Nasdaq and to comply with applicable listing requirements; (3) changes in applicable laws or regulations; (4) the inability of the Company to raise financing in the future; (5) the success, cost and timing of the Company’s product development activities; (6) the inability of the Company to obtain and maintain regulatory clearance or approval for its respective products, and any related restrictions and limitations of any cleared or approved product; (7) the inability of the Company to identify, in-license or acquire additional technology; (8) the inability of the Company to compete with other companies currently marketing or engaged in the development of products and services that the Company is currently developing; (9) the size and growth potential of the markets for the Company’s products and services, and their respective ability to serve those markets, either alone or in partnership with others; (10) the failure to achieve any milestones or receive any milestone payments under any agreements; (11) inaccuracy in the Company’s estimates regarding expenses, future revenue, capital requirements and needs for and the ability to obtain additional financing; (12) the Company’s ability to protect and enforce its intellectual property portfolio, including any newly issued patents; and (13) other risks and uncertainties indicated from time to time in the Company’s filings with the SEC, including the risks and uncertainties described in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K filed with the SEC on March 14, 2025 and subsequently filed reports. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:
JTC Team, LLC
Jenene Thomas
(833) 475-8247
GRI@jtcir.com


FAQ

How much did GRI Bio raise in their April 2025 public offering?

GRI Bio raised $5.0 million in gross proceeds, with potential additional proceeds of $13.3 million if all warrants are exercised.

What is the exercise price and structure of GRI Bio's 2025 warrant offering?

The warrants have a $3.20 exercise price, with three series: E-1 (5-year expiry), E-2 (18-month expiry), and E-3 (9-month expiry).

What will GRI Bio use the proceeds from the April 2025 offering for?

GRI Bio will use the proceeds for product candidate development, working capital, and general corporate purposes.

How many shares and warrants were included in GRI Bio's 2025 public offering?

The offering included 1,388,888 shares and three series of warrants (E-1, E-2, E-3), each allowing purchase of up to 1,388,888 shares.

What was the combined public offering price per share for GRI's April 2025 offering?

The combined public offering price was $3.60 per share including accompanying warrants.
GRI Bio

NASDAQ:GRI

GRI Rankings

GRI Latest News

GRI Stock Data

1.17M
524.89k
0.12%
2.51%
5.22%
Biotechnology
Pharmaceutical Preparations
Link
United States
LA JOLLA