Exhibit 5.1
250 VESEY STREET • NEW YORK, NEW YORK 10281.1047
TELEPHONE: +1.212.326.3939 • FACSIMILE: +1.212.755.7306
January 2, 2024
Cibus, Inc.
6455 Nancy Ridge Drive
San Diego, CA 92121
| | Re: | Up to $80,000,000 of Shares of Class A Common Stock, Par Value $0.0001 Per Share, to Be Offered Pursuant to the Sales Agreement |
Ladies and Gentlemen:
We are acting as counsel for Cibus, Inc., a Delaware corporation (the “Company”), in connection with the issuance and sale of up to $80,000,000 aggregate offering price of shares of Class A common stock, par value $0.0001 per share, of the Company (the “Shares”), pursuant to the Sales Agreement, dated as of January 2, 2024 (the “Sales Agreement”), by and between the Company and Stifel, Nicolaus & Company, Incorporated (the “Agent”). The Shares may be offered and sold from time to time pursuant to Rule 415 under the Securities Act of 1933 (the “Act”) in accordance with the terms of the Sales Agreement.
In connection with the opinion expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of this opinion. Based upon the foregoing and subject to the further assumptions, qualifications and limitations set forth herein, we are of the opinion that the Shares, when issued and delivered pursuant to the terms of the Sales Agreement against payment of the consideration therefor as provided therein, will be validly issued, fully paid and nonassessable; provided that such consideration is at least equal to the stated par value of the Shares.
In rendering the opinion above, we have assumed that the resolutions of the Board of Directors authorizing the Company to issue and deliver and sell the Shares pursuant to the Sales Agreement will be in full force and effect at all times at which the Shares are issued and delivered or sold by the Company, and the Company will take no action inconsistent with such resolutions.
The opinion expressed herein is limited to the General Corporation Law of the State of Delaware, as currently in effect, and we express no opinion as to the effect of the laws of any other jurisdiction.
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