Date: 2016-08-09
Type of information: Private placement
Company: CEL-SCI Corporation (USA -VA)
Investors:
Amount: $5 million
Funding type: private placement
Planned used: The net proceeds of the offering will be used for the ongoing Phase 3 study and general corporate purposes.
Others: * On August 29, 2016, CEL-SCI Corporation announced that it has closed its previously announced registered direct offering with institutional investors. The Company has received gross proceeds of $5 million. * On August 23, 2016, CEL-SCI Corporation announced it has entered into a definitive agreement with institutional investors to purchase approximately 10 million shares of its common stock and warrants exercisable for up to approximately 5 million shares of its common stock for gross proceeds of $5 million. The warrants will be exercisable six months following the date of issuance, will expire on the fifth anniversary of the initial exercise date and have an exercise price of $0.55 per share. The closing of the offering is expected to take place on or about August 26, 2016, subject to the satisfaction of customary closing conditions. Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, acted as the exclusive placement agent in connection with the offering.
Therapeutic area: Cancer - Oncology
