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Cellectar Biosciences, Inc announces closing of public offering and partial exercise of underwriter's over-allotment option


Wednesday, 20 Aug 2014 04:05pm EDT 

Cellectar Biosciences, Inc:Announces the closing of an underwritten public offering of 3,333,333 shares of its common stock at a per share price of $3.75 and warrants to purchase up to the same number of shares of common stock at a per warrant price of $0.01.Plus the issuance of approximately an additional 1,110,000 shares and warrants in consideration of the cancellation of $4,000,000 principal amount of convertible debentures plus accrued interest.Warrants have an exercise price of $4.68 per share, are immediately exercisable and expire in Aug. 2019.Says it also announced that the underwriter partially exercised the over-allotment option to purchase an additional 250,000 shares of common stock and acquired warrants to purchase 500,000 shares of common stock.Underwriter also has a 45 day option to purchase up to an additional 250,000 shares of common stock to cover additional over-allotments.Including tender of all outstanding convertible debentures, it is offering a total of about 4,700,000 common shares and about 5,000,000 warrants.Gross proceeds to the company, including the underwriter's partial exercise of the over-allotment option, were $13,500,000, before deducting underwriting discounts and commissions and other offering expenses payable by the company.Aegis Capital Corp acted as the sole book-running manager for the offering. 

Company Quote

2.57
-0.04 -1.53%
4 Mar 2015