Synlogic prices 7.39M shares at $2.84 in underwritten public offering

Synlogic announced the pricing of an underwritten public offering of 7,394,363 shares of common stock and accompanying common warrants to purchase up to an aggregate of 7,394,363 shares of common stock. The combined effective offering price to the public of each share of common stock and accompanying warrant is $2.84. The accompanying warrants will have an exercise price of $3.408 per share, will be exercisable immediately, and will expire five years from the initial exercise date. All of the securities are being offered by Synlogic, Inc. The Company expects to receive total gross proceeds of approximately $21.0 million, before deducting underwriting discounts, commissions and offering expenses. The offering is expected to close on or about October 3, 2023, subject to satisfaction of customary closing conditions. Chardan is acting as sole book-running manager for the offering.