Tuesday, May 28, 2019

Cibus Pulls IPO Paperwork

San Diego-based Cibus, a developer of gene editing tools being aimed at use in plant breeding, has pulled its IPO paperwork, saying in a filing that it has decided "not to proceed with the initial public offering of its securities at this time." Cibus had set an estimated initial pricing range of $14.00 to $16.00 in February, looking to sell around 6.67 million shares of its common stock, but delayed its IPO without pricing. The company had hoped to list on the Nasdaq Global Select Market as CBUS, in an IPO which was underwritten by Morgan Stanley, BofA Merrill Lynch, Piper Jaffray, and BMO Capital Markets. The company's primary backers were BV Partners and Fidelity Investments.