Curative Biotechnology files for $8M IPO

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Curative Biotechnology (OTCPK:CUBT) has applied to have its shares listed on NYSE American and to hold a $8 million initial public offering.

In a document, the biotech firm stated that it intends to offer 1.6 million shares at the assumer price of $5.15 per share. Underwriters will be given a 45-day option to purchase up to 233,00 more shares at the IPO price. Aegis Capital is the principal bookrunner.

The company has stated that it plans to undertake a 1-for-400 reverse stock split prior to the IPO.

Curative Biotechnology’s shares are currently traded on the OTC market under the ticker name CUBT. The company has applied to NYSE American to list them under the same symbol.

Curative Biotechnology, based in Florida, has in-licensed four preclinical stage therapeutic candidates as potential therapies for rabies, glioblastoma, and age-related macular degeneration. One is also being developed as a COVID-19 vaccine for renal failure patients. The company is currently not profitable.

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