Selecta prices $50M private placement

Selecta Biosciences Inc. (NASDAQ:SELB) gained $2.16 (12%) to $19.87 on Monday after the company said it priced a $50 million private placement. The company is raising $44 million through the sale of 2.8 million shares at $16 to new and existing investors. It is raising another $6 million via the sale to a company board member of 338,791 shares and warrants to purchase 79,130 additional shares at an exercise price of $17.71.

The placement will fund the company into 2019, Selecta said. Stifel was the sole placement agent...