Shares of SAB BIO (SABS), a clinical-stage biopharmaceutical company, touched a new 52-week high of $6.60 in early trading today, following the announcement of an oversubscribed $175 million private placement.
In the private placement, the company plans to issue up to 1 million shares of its Series B non-voting convertible preferred stock. These shares can be converted into up to 100 million common shares for $1.75 each. The company will also issue warrants allowing the purchase of up to 1.5 million additional Series B preferred shares, which could rake in gross proceeds of up to $284 million if fully exercised. The private placement is expected to close around July 22, 2025, subject to customary conditions.
For comments and feedback contact: editorial@rttnews.com
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.