Skye Bioscience to Raise $89.9M in PIPE Financing With Warrants
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Skye Bioscience will raise total gross proceeds of $89.9 million through a PIPE financing and a committed equity line facility. The PIPE provides $67.9 million, potentially increasing to $72.9 million, with additional $22.0 million under a Redmile-affiliated term sheet. Securities are issued under a Securities Act exemption, and warrants are exercisable from January 1, 2027.
Coverage (5)
- Skye Bioscience Acquires Redx Pharma, Exits Obesity for Fibrosis Focus (clinicaltrialvanguard.com)
- Skye Bioscience and Redx Pharma Announce Transaction Agreement and $125 Million in Financings (globenewswire.com)
- Skye and Redx form new entity with $125M to advance fibrosis assets (fiercebiotech.com)
- Skye Bioscience and Redx Pharma to merge (thepharmaletter.com)
- Skye Bioscience, Inc. announced that it expects to receive $89.9 million in funding from Redmile Group, LLC, Nextbio Capital Management LP, 5AM Venture Management, LLC, Abingworth LLP, British Patient (marketscreener.com)