Catalyst Biosciences, Inc. announced that it has entered into Securities Purchase Agreement with new investor GNI USA to issue 8,110,000 units which consists of 811 shares of Gyre?s Series X Convertible Preferred Stock, and warrants to purchase up to 811 shares of the Convertible Preferred Stock. The purchase price for each Unit was $0.6165, for an aggregate purchase price of approximately $4,999,815 on October 27, 2023. The transaction is expected to close on October 30, 2023.

The Warrants are immediately exercisable at an exercise price of $4,915.00 per share of Convertible Preferred Stock, subject to adjustments as provided under the terms of the Warrants, and expire October 30, 2033. The securities issued to GNI USA under the Securities Purchase Agreement were issued pursuant to an exemption from registration under Rule 506 of Regulation D, which is promulgated under the Securities Act of 1933 (the ?Securities Act?). Gyre relied on this exemption from registration based in part on representations made by GNI USA.

The sale of the securities pursuant to the Securities Purchase Agreement has not been registered under the Securities Act or any state securities laws. The securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.