GRI Bio, Inc (GRI) Announces Pricing of $5.0 Million Public Offering

GRI Bio, Inc. (NASDAQ: GRI) (“GRI Bio” or the “Company”), a biotechnology company advancing an innovative pipeline of Natural Killer T (“NKT”) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced the pricing of a public offering of an aggregate of 1,388,888 shares of its common stock (or common stock equivalents in lieu thereof), Series E-1 warrants to purchase up to 1,388,888 shares of common stock, short-term Series E-2 warrants to purchase up to 1,388,888 shares of common stock and short-term Series E-3 warrants to purchase up to 1,388,888 shares of common stock (all the warrants, collectively, the "Series Warrants"), at a combined public offering price of $3.60 per share (or per common stock equivalent in lieu thereof) and accompanying Series Warrants. The Series Warrants will have an exercise price of $3.20 per share and will be exercisable immediately upon issuance. The Series E-1 warrants will expire on the five-year anniversary of the initial issuance date. The short-term Series E-2 warrants will expire on the eighteen-month anniversary of the initial issuance date. The short-term Series E-3 warrants will expire on the nine-month anniversary of the initial issuance date. The closing of the offering is expected to occur on or about April 2, 2025, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The aggregate gross proceeds to the Company from the offering are expected to be approximately $5.0 million before deducting the placement agent's fees and other offering expenses payable by the Company. The potential additional gross proceeds to the Company from the Series Warrants, if fully exercised on a cash basis, will be approximately $13.3 million. No assurance can be given that any of the Series Warrants will be exercised. The Company intends to use the net proceeds from this offering for its product candidate development, working capital and general corporate purposes.

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