Ladenburg Thalmann will be the bookrunning manager for the offering
By Devika Patel
Knoxville, Tenn., April 20 – Cellectar Biosciences, Inc. said it took in about $8 million in a public offering of stock or prefunded warrants. The deal priced for about $7 million on April 15.
The company sold about 1.87 million common shares and about 1.91 million prefunded warrants at $2.13 apiece.
For each share or prefunded warrant purchased, an investor received a five-year traditional warrant exercisable for one common share at $3.04 per share. The strike price is a 0.33% discount to the April 7 closing share price of $3.05. The price per share or prefunded warrant is a 30.16% discount to that price.
Ladenburg Thalmann was the bookrunner.
Proceeds will be used for general corporate and working capital purposes.
The pharmaceutical company is based in Madison, Wis.
| Issuer: | Cellectar Biosciences, Inc.
|
| Issue: | Common stock or prefunded warrants
|
| Amount: | $8 million (approximate)
|
| Shares: | 1.87 million (approximate)
|
| Prefunded warrants: | 1.91 million (approximate)
|
| Price: | $2.13
|
| Warrants: | One per share or prefunded warrant
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.04
|
| Bookrunner: | Ladenburg Thalmann
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Stock symbol: | Nasdaq: CLRB
|
| Stock price: | $3.05 at close April 14
|
| Market capitalization: | $1.8 million
|
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