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CEL-SCI Corp announces closing of public offering and exercise of over-allotment option for aggregate gross proceeds of $3.3 million


Thursday, 26 Dec 2013 10:00am EST 

CEL-SCI Corp:Says it has closed an underwritten public offering of units consisting of an aggregate of 5,238,095 shares of common stock and warrants to purchase an aggregate of 5,238,095 shares of common stock.Says the securities sold are inclusive of the exercise in full by the underwriters of the over-allotment option to purchase an additional 471,190 shares of common stock and warrants to purchase 471,190 shares of common stock.Says at a combined price of $0.63, and resulted in aggregate gross proceeds of about $3.3 million, prior to deducting underwriting discounts and commissions and offering expenses of the company.Says the common stock and warrants will separate immediately.Says the warrants are immediately exercisable, expire Oct. 11, 2018 and have an exercise price of $1.25.Says CEL-SCI intends to use the net proceeds of the offering for its Phase III clinical trial, other research and development, and general and administrative expenses.Says Laidlaw & Company (UK) Ltd. is acting as sole book-running manager for the offering.Says Dawson James Securities, Inc. is acting as co-manager for the offering. 

Company Quote

0.63
0.01 +1.61%
26 Dec 2014