Celcuity Inc. Announces $50M Private Placement
Portfolio Pulse from Benzinga Newsdesk
Celcuity Inc. (NASDAQ:CELC), a clinical-stage biotechnology company, has announced a private placement expected to generate around $50 million in gross proceeds. An institutional investor will purchase pre-funded warrants to buy shares of Celcuity's common stock at $8.699 per warrant. The proceeds will be used to advance clinical development of gedatolisib and for general corporate purposes. The closing of the private placement is expected to occur on October 20, 2023.
October 18, 2023 | 1:16 pm
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POSITIVE IMPACT
Celcuity's private placement is expected to generate $50 million, which will be used for clinical development and general corporate purposes. This could potentially boost the company's stock in the short term.
The private placement will provide Celcuity with additional capital, which will be used for clinical development and general corporate purposes. This could potentially lead to positive developments for the company, which may positively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100