Gri bio announces closing of $4.0 million public offering

La jolla, ca, june 28, 2024 (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 for the purchase and sale 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 purchase price of $1.83 per share (or per common stock equivalent in lieu thereof) and accompanying series warrants. the series warrants 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 expire on the five-year anniversary of the initial exercise date. the series c-2 warrants expire on the eighteen-month anniversary of the initial exercise date.
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