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ARTICLE | Financial News

Cellectar raises $7.8M in registered direct offering

October 20, 2017 12:28 AM UTC

On Oct. 12, Cellectar Biosciences Inc. (NASDAQ:CLRB) raised $7.8 million through the sale of shares and convertible stock in a registered direct offering. Cellectar sold 2 million common shares at $1.87 and 41 preferred shares at $100,000. The company said the preferred shares are immediately convertible into 53,369 common shares at $1.87.

In a concurrent private placement, Cellectar offered investors seven-year series D warrants to purchase up to 3.1 million shares. The warrants are exercisable at $1.78...

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Cellectar Biosciences Inc.