Skye Bioscience raises $46.2M, sells real estate; equity now $49M for Nasdaq compliance

Skye Bioscience, Inc.

Net proceeds of ~$46.2M from private placement of 11.7M shares and pre-funded warrants on Jan 31, 2024.
Subsidiary Avalite Sciences sold real estate on Jan 19, 2024, contributing ~$1.14M gain to equity.
Pro forma stockholders' equity as of Sept 30, 2023 adjusted to $49.05M from $1.70M.
Company believes equity now exceeds $5M minimum required for initial listing on The Nasdaq Capital Market.

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