Seeking Alpha

Celsion raises $13.8M

  • 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)
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