Cellectar Biosciences Announces Up To Approximately $103 Million Private Placement Financing
Amount Raised
$103 Million
Round Type
Post-IPO Equity
Florham ParkBiotechnologyHealthcarePharmaceuticalBiopharmaDescription
Cellectar Biosciences, Inc. (NASDAQ: CLRB), a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of targeted drugs for the treatment of cancer, today announced it has entered into a securities purchase agreement with certain institutional investors for a private placement financing (the “PIPE”) that is expected to result in gross proceeds of up to $102.9 million, including an initial funding of $24.5 million priced at the company’s common stock closing price on September 1, 2023 of $1.82 per share. The financing is being led by Rosalind Advisors with participation from AIGH Capital, ADAR1, Second Line, Nantahala Capital, AuGC, and other new and existing institutional investors.
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