BUFFALO, N.Y., Jan. 14, 2014 (GLOBE NEWSWIRE) -- Cleveland BioLabs, Inc. (Nasdaq:CBLI) today announced that it has entered into definitive agreements with two institutional investors to purchase an aggregate of $7 million of its common stock in an at-the-market registered direct offering at $1.22 per share. Additionally, for each share of common stock purchased, investors will receive a Series A Warrant to purchase one-half of a share of our common stock at an exercise price of $1.22 per share, which shall be initially exercisable six months following issuance and expire five years from the date of issuance, and a Series B Warrant to purchase one-half of a share of our common stock at an exercise price of $1.22 per share, which shall be initially exercisable six months following issuance and expire 18 months from the date of issuance. The closing of the offering is expected to take place on or about January 16, 2014, subject to the satisfaction of customary closing conditions.
Cleveland BioLabs Announces $7 Million At-The-Market Registered Direct Offering
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