Synlogic announces pricing of $21.0 million underwritten public offering

Cambridge, mass., sept. 29, 2023 (globe newswire) -- synlogic, inc. (nasdaq: sybx), a clinical-stage biotechnology company advancing novel, oral, non-systemically absorbed biotherapeutics to transform the care of serious diseases, today announced the pricing of an underwritten public offering of (i) 7,394,363 shares of common stock (or common stock equivalents in lieu thereof) and (ii) accompanying common warrants to purchase up to an aggregate of 7,394,363 shares of common stock. the combined effective offering price to the public of each share of common stock (or pre-funded warrant) and accompanying warrant is $2.84. the accompanying warrants will have an exercise price of $3.408 per share, will be exercisable immediately, and will expire five years from the initial exercise date. all of the securities are being offered by synlogic, inc. the company expects to receive total gross proceeds of approximately $21.0 million, before deducting underwriting discounts, commissions and offering expenses. the offering is expected to close on or about october 3, 2023, subject to satisfaction of customary closing conditions.
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