GRI Bio Announces Pricing of $5.0 Million Public Offering

LA JOLLA, CA, April 01, 2025 (GLOBE NEWSWIRE) -- GRI Bio, Inc. (NASDAQ: GRI) (“GRI Bio” or the “Company”), a biotechnology company advancing an innovative pipeline of Natural Killer T (“NKT”) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced the pricing of a public offering of an aggregate of 1,388,888 shares of its common stock (or common stock equivalents in lieu thereof), Series E-1 warrants to purchase up to 1,388,888 shares of common stock, short-term Series E-2 warrants to purchase up to 1,388,888 shares of common stock and short-term Series E-3 warrants to purchase up to 1,388,888 shares of common stock (all the warrants, collectively, the "Series Warrants"), at a combined public offering price of $3.60 per share (or per common stock equivalent in lieu thereof) and accompanying Series Warrants. The Series Warrants will have an exercise price of $3.20 per share and will be exercisable immediately upon issuance. The Series E-1 warrants will expire on the five-year anniversary of the initial issuance date. The short-term Series E-2 warrants will expire on the eighteen-month anniversary of the initial issuance date. The short-term Series E-3 warrants will expire on the nine-month anniversary of the initial issuance date. The closing of the offering is expected to occur on or about April 2, 2025, subject to the satisfaction of customary closing conditions.