Celator Pharmaceuticals (CPXX)

[Roofer73]

EWING, N.J., March 23, 2016 /PRNewswire/ -- Celator Pharmaceuticals, Inc. (CPXX), a pharmaceutical company developing new and more effective therapies to treat cancer, today announced the pricing of an underwritten public offering of 4,000,000 shares of common stock. The shares of common stock are being offered at a price of $9.50 per share. The gross proceeds to Celator from this offering are expected to be approximately $38.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Celator. The Company has granted the underwriters a 30-day option to purchase an additional 600,000 shares of common stock to cover over-allotments. The offering is expected to close on or about March 29, 2016, subject to customary closing conditions.