BioHarvest Sciences Inc. (NASDAQ:BHST) announced that it has priced its underwritten public offering of 2,485,000 company shares at $7 per share, for expected gross proceeds of about $17.4 million.
The company said it expects to use the net proceeds from the offering for research and development, manufacturing, marketing, advancing the CDMO business unit, debt reduction or debt refinancing, capital expenditures, and general corporate purposes, including funding working capital.
BioHarvest noted that in connection with the offering, it has granted the underwriters a 30-day option to purchase up to 372,750 additional shares of its common stock at the public offering price, less the underwriting discount.
Craig-Hallum is acting as the sole managing underwriter for the offering.
The company added that it expects the offering to close on or about November 10, 2025, subject to the satisfaction of customary conditions.