Gri bio announces exercise of warrants

La jolla, ca, oct. 21, 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 that it has entered into definitive agreements for the exercise of certain existing warrants to purchase an aggregate of 762,236 shares of the company's common stock, having an original exercise price of $14.30 per share, originally issued by gri bio in february 2024, at a reduced exercise price of $1.00 per share. the issuance of the shares of common stock issuable upon exercise of the existing warrants is registered pursuant to an effective registration statement on form s-1 (file no. 333-276205). the offering is expected to close on or about october 22, 2024, subject to satisfaction of customary closing conditions.
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