Agricultural tech co Cibus slides on stock offering unveil

Agricultural technology firm Cibus CBUS.O shares down 13.1% post-market to $1.53 as it plans equity raise

San Diego, California-based gene-editing firm announces stock offering without disclosing deal size

Board members Jean-Pierre Lehmann and co-founder Rory Riggs have indicated to buy up to $1.5 mln of offering, per the prospectus

It plans to use net offering proceeds for working capital and general purposes, including to fund development of its weed management traits in rice and to pay accrued professional expenses

BTIG sole underwriter

Co has ~54.3 mln shares outstanding for nearly $100 mln market cap

CBUS shares fell 2.2% to $1.76 on Weds. Stock down ~28% over the past 12 months

3 of 4 analysts rate the stock "buy", 1 has "hold"; median PT $15.50