- Celsion (CLSN +0.5% at $4.12) has agreed to sell 3.6M shares to institutional investors for $4.1625 each, providing the company with net proceeds of $13.8M. The investors are also receiving warrants to buy further stock.
- Following the completion of the deal, which is expected to take place on Tuesday next week, Celsion's unaudited cash and investment balance will be approximately $57M.
- Celsion plans to use the money for general corporate purposes. (PR)