Dyadic International (DYAI) is bringing in approximately $2.9 million in gross proceeds through a registered direct offering paired with a concurrent private placement of warrants, with the transaction expected to close on or about August 14, 2026, according to a company news release dated August 13, 2026.

The registered direct offering priced 3,625,000 shares of Common Stock at $0.795 per share. Simultaneously, the company sold Common Warrants to purchase 3,625,000 shares of Common Stock in the private placement at an exercise price of $0.84 per share, with each warrant priced at $0.005. Aegis Capital Corp. acted as exclusive placement agent.

The timing matters: Dyadic's cash position has been declining. As of June 30, 2026, cash, cash equivalents, restricted cash, and the carrying value of investment-grade securities — including accrued interest — stood at $4,794,798, down from $8,587,289 as of December 31, 2025, per the company's Q2 2026 financial results reported August 12. The company says net proceeds will be used for general corporate purposes and working capital, combined with existing cash on hand.

On the revenue side, Dyadic reported total revenue of $961,138 for the three months ended June 30, 2026 — essentially flat, down just $5,492, or 0.6%, from $966,630 in the same quarter a year earlier, per the August 12 results release. The company also noted it completed shipments of six distinct recombinant protein products during the quarter and generated initial pilot sales of recombinant transferrin and growth factors for cultivated-meat applications subsequent to quarter-end.

Joe Hazelton, President and COO, framed the quarter in the August 12 release: "Our strong second-quarter performance underscores Dyadic's ongoing transformation into a commercial-stage biotechnology leader... We are driving commercial launches and sales of recombinant proteins, securing recurring revenue through strategic partners, distribution and optimizing manufacturing yields across life sciences, food and nutrition, and bioindustrial markets."

Dyadic's core platform centers on its C1 and Dapibus™ expression systems, which the company positions as scalable, non-animal protein production technology serving life sciences, food and nutrition, and bio-industrial markets.

The raise carries an obvious read: with the cash balance having dropped by roughly half between December 31, 2025 and June 30, 2026, and revenue essentially unchanged year-over-year, the company needed capital. The $2.9 million in gross proceeds and the warrant structure — exercise price set above the offering share price at $0.84 — offer potential additional inflows if the warrants move into the money, though that outcome is not guaranteed.

Next up: the closing on or about August 14, 2026, and subsequent deployment of proceeds toward working capital, with the cultivated-meat and recombinant protein commercial pipeline serving as the near-term operational focus per the company's own disclosure.