Celator raises $32.5 million

Celator Pharmaceuticals Inc. (Princeton, N.J.) raised $32.5 million in the final close of a private placement of common stock and warrants, bringing the total raised in the offering to $39.3 million. The company raised $6.8 million in several initial closings. In the final close, Celator sold 10.4 million shares at $3.12. Investors also received warrants to buy 0.28 shares for every share purchased. Valence led the close, with participation from institutional and accredited investors. Roth Capital Partners and National Securities Corp. were placement agents. Valence's Scott Morenstein will join Celator's board. ...