Cellectar biosciences announces exercise of tranche b warrants and purchase of new warrants for approximately $19.4 million with the potential to raise up to an additional $73.3 million

Florham park, n.j., july 22, 2024 (globe newswire) -- cellectar biosciences, inc. (nasdaq: clrb), a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer, today announced that the majority of tranche b warrants issued under its september 2023 private placement have been exercised for series e preferred stock, convertible into the company's common stock, by the participants of the previous financing, led by rosalind advisors, in exchange for a reduced, as-converted common stock price of $2.52 and the purchase of new warrants. the exercised tranche b warrants and newly purchased warrants will generate gross proceeds of approximately $19.4 million. the new warrants purchased by investors have the potential to generate up to an additional $73.3 million in gross proceeds, if exercised.
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