BioHarvest Sciences closes $19.9 million public offering

BioHarvest Sciences Inc. (NASDAQ: BHST) completed an underwritten public offering of 2,846,854 shares of common stock at $7.00 per share, generating gross proceeds of $19.9 million before deducting underwriting fees and expenses.

The offering included 361,854 shares issued through the underwriters' option to purchase additional shares. Craig-Hallum served as the sole managing underwriter for the transaction.

The company plans to use net proceeds for manufacturing expansion, research and development, marketing, debt reduction or refinancing, capital expenditures, and general corporate purposes including working capital funding.

"This transaction fully funds near-term CapEx needs, giving us the strength and flexibility to accelerate growth across both our Product and CDMO Services businesses," said Ilan Sobel, CEO of BioHarvest Sciences.

The offering was conducted under a shelf registration statement filed with the Securities and Exchange Commission on August 28, 2025, which became effective September 8, 2025.

BioHarvest develops plant-based compounds using its Botanical Synthesis technology platform, operating as both a contract development and manufacturing organization and creator of nutraceutical products. The company is scheduled to hold its third quarter earnings call on November 13.

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