Dyadic International Announces Proposed Public Offering of Common Stock.

Dyadic International, a global biotechnology company, has announced a proposed public offering of common stock. The offering is subject to market and other conditions, with Craig-Hallum Capital Group LLC as the sole managing underwriter. Dyadic intends to use the net proceeds from the offering for unspecified purposes. The exact size and terms of the offering have not been disclosed.

Dyadic International Inc. (NASDAQ: DYAI), a global biotechnology company, has announced a proposed public offering of common stock. The offering is subject to market and other conditions, with Craig-Hallum Capital Group LLC as the sole managing underwriter. Dyadic intends to use the net proceeds from the offering for unspecified purposes. The exact size and terms of the offering have not been disclosed [1].

The company, which specializes in protein production platforms, has priced its underwritten public offering of 6,052,000 shares of common stock. The offering is expected to close on August 1, 2025, subject to customary closing conditions [2].

The securities are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-273829) initially filed with the Securities and Exchange Commission (SEC) on August 9, 2023, and declared effective by the SEC on August 25, 2023 [1]. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the offering was filed with the SEC. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained by visiting the SEC’s website at www.sec.gov or by contacting Craig-Hallum Capital Group LLC [1].

Dyadic’s 6.05M share offering will dilute shareholders but provides capital for product development and operations. The company’s decision to raise capital through equity rather than debt indicates a preference for avoiding interest expenses and maintaining financial flexibility, though at the cost of ownership dilution [1].

The lack of specified pricing details in the release makes it challenging to calculate the exact dilution impact or total proceeds. For existing shareholders, this represents material dilution of their ownership stakes. The shelf registration approach suggests management anticipated capital needs and prepared accordingly [1].

With Craig-Hallum as the sole underwriter, Dyadic has opted for a streamlined offering process rather than engaging multiple investment banks, which might impact distribution reach but potentially reduces underwriting costs [1].

References:
[1] https://www.stocktitan.net/news/DYAI/dyadic-international-inc-announces-pricing-of-public-offering-of-6-fkzmbommvo8j.html
[2] https://finance.yahoo.com/news/dyadic-international-inc-announces-pricing-124700397.html