On January 30, 2023 CymaBay Therapeutics, Inc. (Nasdaq: CBAY), a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet medical need reported the closing, on January 26, 2023, of its previously reported underwritten public offering of its common stock and pre-funded warrants (Press release, CymaBay Therapeutics, JAN 30, 2023, View Source [SID1234626641]). CymaBay sold 11,821,428 shares of its common stock in the offering, including 1,821,428 shares pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $7.00 per share before underwriting discounts and commissions. In addition, CymaBay sold pre-funded warrants to purchase 2,142,857 shares of common stock in the offering, at a public offering price of $6.9999 per underlying share before underwriting discounts and commissions. All of the shares of common stock and pre-funded warrants were offered by CymaBay. CymaBay anticipates using the net proceeds from the offering to fund ongoing development of seladelpar, including clinical trials targeting market expansion, and for working capital and general corporate purposes.
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Piper Sandler, Raymond James and Cantor acted as the joint book-running managers for the offering.
The securities described above were offered by CymaBay pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC"). A final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC’s website, located at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from: Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at 800-747-3924, or by email at [email protected]; Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, Florida 33716, by telephone at (800) 248-8863, or by e-mail at [email protected]; or Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 4th Floor, New York, New York 10022, or by e-mail at [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.