Cyabra Closes $6M Private Placement, Names A.G.P. as Agent
CYAB is trading near its 52-week low of $0.326 (5.1% above the low).
Summary
Cyabra closed its $6 million private placement on July 10, following the pricing announced a day earlier. The deal includes common stock, pre-funded warrants, and Series A and B warrants with exercise prices of $0.50 and $0.45. A.G.P./Alliance Global Partners served as exclusive placement agent. Proceeds are earmarked for working capital and general corporate purposes, with post-approval restrictions on new issuances and variable rate deals. This capital infusion addresses the going concern warning and Nasdaq delisting threat highlighted in recent filings, but the modest size relative to the company's cash burn means the runway extension is limited.
At the time of this announcement, CYAB was trading at $0.34 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.8M. The 52-week trading range was $0.33 to $14.91. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.