Cartesian Therapeutics Has Entered Into A Private Investment In Public Equity Financing Of Approximately $130M
Portfolio Pulse from Benzinga Newsdesk
Cartesian Therapeutics has entered into a private investment in public equity (PIPE) financing of approximately $130 million. The company is selling 3,563,247 shares of common stock and 2,937,903 shares of Series B Non-Voting Convertible Preferred Stock at $20.00 per share. The Series B Preferred Stock is convertible into common stock, subject to stockholder approval and beneficial ownership limitations.
July 02, 2024 | 10:36 am
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Cartesian Therapeutics has raised $130 million through a PIPE financing deal, selling common and Series B Preferred Stock at $20 per share. The Series B Preferred Stock is convertible into common stock, pending stockholder approval.
The $130 million PIPE financing provides Cartesian Therapeutics with significant capital, which can be used for growth and development. The conversion of Series B Preferred Stock to common stock, pending approval, may also impact the stock price positively in the short term.
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