Biora Therapeutics announces $9.75M registered direct offering

Biora Therapeutics announced that it has entered into a definitive agreement with institutional investors for the purchase and sale, in a registered direct offering, of 32,506,250 shares of the Company’s common stock and warrants to purchase up to 32,506,250 shares of common stock at a combined offering price of $0.30 per share of common stock and accompanying warrant. The warrants have an exercise price of $0.3288 per share, will become exercisable commencing six months following the date of issuance, and will expire five years following the initial exercise date. The closing of the offering is expected to occur on or about November 9, 2022, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.