secwatch.observer — SEC 8-K summary
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Issuer:     Cellectar Biosciences, Inc. (CLRB)
CIK:        0001279704
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0001104659-23-099368
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cellectar raises $24.5M via private placement of Series E-1 preferred stock and warrants
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- Raised $24.5M selling 1,225 shares Series E-1 Preferred Stock at $20,000/share plus warrants for additional preferred shares.
- Series E-1 convertible into common at $1.82/share (subject to stockholder approval); warrants have exercise prices $3.185-$4.7775/share.
- Warrants exercisable upon milestones: positive CLOVER-WaM topline data (Tranche A ~$44.1M) or FDA NDA approval for iopofosine I 131 (Tranche B ~$34.3M).
- Filed Certificate of Elimination for Series A/B/C preferred; reduced Series D authorized shares from 1,519 to 111.1111.
- Proceeds for working capital; Oppenheimer & Co. placement agent with 7% cash fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1279704/000110465923099368/0001104659-23-099368-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1279704/000110465923099368/tm2325751d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-099368

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer