08:19 AM EDT, 07/02/2024 (MT Newswires) -- Cartesian Therapeutics ( RNAC ) said on Tuesday that it secured about $130 million through a private investment in public equity financing.

The deal, expected to close around Wednesday, involves new and existing investors, such as HBM Healthcare Investments, Invus, Surveyor Capital, and others.

The company said the financing includes the sale of 3.6 million shares of its common stock and 2.9 million shares of Series B Non-Voting Convertible Preferred Stock at $20 per share.

The company intends to use the net proceeds and existing cash to fund its pipeline programs and general corporate purposes.

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