Cibus, Inc. (NASDAQ: CBUS) announced plans for an underwritten public offering of Class A common stock and pre-funded warrants. The agricultural technology company said it may also grant underwriters a 30-day option to purchase up to 15% additional shares under the same terms.

BTIG, LLC will serve as the sole underwriter for the offering. The company stated the offering remains subject to market conditions and other factors, with no assurance regarding completion, timing, size or final terms.

Cibus plans to use net proceeds for working capital and general corporate purposes, including funding development of weed management traits in rice. The company develops and licenses plant traits to seed companies using gene editing technologies.

The securities will be offered under an existing shelf registration statement filed with the Securities and Exchange Commission in June 2023 and declared effective in October 2023. A prospectus supplement describing the offering terms will be filed with the SEC.

The San Diego-based company describes itself as focused on developing traits that address productivity, yield and sustainability challenges for major global row crops. Cibus licenses its gene editing technologies to customers in exchange for royalties rather than operating as a seed company.