Cleveland BioLabs to Raise Approximately $8.39 Million in Registered Direct Offering With Single Institutional Investor
BUFFALO, NY–(Marketwire – 12/23/10) – Cleveland BioLabs, Inc. (NASDAQ: CBLI – News ) today announced that it has agreed to sell 1,400,000 shares of its common stock at a price of $5.99 per share in a registered direct offering to an accredited institutional investor. The price per share was determined based on a 15 percent discount to the average volume-weighted average price for the Company’s …

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