Cellectar Biosciences Enters Material Definitive Agreement

TL;DR

Cellectar just signed a big deal, expect financial news soon.

AI Summary

Cellectar Biosciences, Inc. entered into a Material Definitive Agreement on June 20, 2024, related to a direct financial obligation. The company, incorporated in Delaware, has its principal executive offices in Florham Park, NJ.

Why It Matters

This filing indicates a new financial commitment or obligation for Cellectar Biosciences, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce financial risks and uncertainties for a company.

Key Players & Entities

• Cellectar Biosciences, Inc. (company) — Registrant
• June 20, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• Florham Park, NJ (location) — Address of Principal Executive Offices

FAQ

Key Financial Figures

• $0.00001 — ch registered Common Stock, par value $0.00001 per share CLRB NASDAQ Check the a
• $45,669.17 — d Lease, the Company deposited a sum of $45,669.17 as an additional security deposit. The
• $69,235.25 — ity deposit held by the Landlord equals $69,235.25. The aggregate rent due under the Amend
• $2,534,000 — ent Commencement Date, is approximately $2,534,000. The Company will also be required to p

Filing Documents

• tm2418236d1_8k.htm (8-K) — 25KB
• 0001104659-24-074747.txt ( ) — 192KB
• clrb-20240620.xsd (EX-101.SCH) — 3KB
• clrb-20240620_lab.xml (EX-101.LAB) — 33KB
• clrb-20240620_pre.xml (EX-101.PRE) — 22KB
• tm2418236d1_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On June 20, 2024, Cellectar Biosciences, Inc. (the "Company") entered into a Second Amendment of Lease (the "Amended Lease"), with CAMPUS 100 LLC (the "Landlord"). Under the Amended Lease, the Company will continue to lease 3,983 square feet of rentable area on the second floor of a building located at 100 Campus Drive in Florham Park, New Jersey (the "Building"). The Company will also lease 7,829 square feet of rentable area on the first floor of the Building, commencing on the date on which the Landlord has substantially completed certain improvements and work described in the Amended Lease (the "Second Amendment Commencement Date") until the Second Amendment Expiration Date (as defined below). Under the terms of the Amended Lease, the expiration date is extended from April 30, 2029 until the date that is the last day of the seventy-fourth Second Amendment Lease Month as described in the Amended Lease (the "Second Amendment Expiration Date"). Under the terms of the Amended Lease, the Company deposited a sum of $45,669.17 as an additional security deposit. The aggregate security deposit held by the Landlord equals $69,235.25. The aggregate rent due under the Amended Lease following the Second Amendment Commencement Date, is approximately $2,534,000. The Company will also be required to pay its proportionate share of certain operating expenses and real estate taxes applicable to the entire 11,812 square feet of leased premises. The foregoing description of the Amended Lease does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Amended Lease, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q.

03 Creation of a Direct Financial Obligation or an Obligation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 above is incorporated by reference herein. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CELLECTAR BIOSCIENCES, INC. Date: June 25, 2024 By: / s/ Chad J. Kolean Chad J. Kolean Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR