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Molecular Templates Inc (MTEM) just unveiled an announcement.
Molecular Templates, Inc. (MTEM) has engaged in a private placement with institutional and accredited investors, securing an initial $20 million through the sale of shares and warrants, followed by an amended second tranche set to raise an additional $9.5 million. The second tranche involves issuing new shares and warrants at prices reflecting the stock’s recent performance on the Nasdaq Capital Market. The proceeds from these transactions are earmarked for clinical studies, working capital, and general corporate purposes, with the closing anticipated on April 2, 2024. Stifel is facilitating this private placement as the sole placement agent.
See more data about MTEM stock on TipRanks’ Stock Analysis page.
