Pluri Inc. has completed a registered direct offering and concurrent private placement, raising approximately $3.3 million before expenses. The Haifa-based biotechnology company issued 2,228,940 common shares at $1.50 per share to a healthcare-focused institutional investor.
The transaction includes a private placement of warrants to purchase up to 2,228,940 additional common shares at an exercise price of $1.65. The warrants will become exercisable six months after issuance and expire five and a half years later.
Proceeds from the offering will be allocated to working capital and general corporate purposes. The common shares were sold under an SEC-effective shelf registration statement declared effective on September 21, 2023. The warrants and underlying shares were issued in compliance with Section 4(a)(2) of the Securities Act of 1933 and Regulation D.
The offering was facilitated by A.G.P./Alliance Global Partners as the sole placement agent. Pluri operates a biotechnology platform leveraging three-dimensional cell expansion technology across Human Health & Longevity and FoodTech & Bio-Farming segments. Its industrial-scale cell manufacturing facility operates under Good Manufacturing Practice standards on a self-declared basis.
The offering is expected to close on or about Friday, subject to customary closing conditions.
