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Cancer Vaccines
CEL-SCI Signs Definitive Agreement to Raise $5 Million in Registered Direct Offering
July 11th, 2009
CEL-SCI Corporation (NYSE AMEX: CVM), a late stage cancer immunotherapy company, announced that it has entered into a definitive agreement with one institutional investor to sell 12.5 million units, with each unit consisting of one of the Company's common shares and 0.67 warrants to purchase one share of common stock, for gross proceeds of approximately $5.0 million, before deducting placement agent fees and estimated offering expenses, in a "registered direct" offering. The investor has agreed to purchase the units at a purchase price of $0.40 per unit. The warrants, which represent the right to acquire an aggregate of up to 8.375 million common shares, will be exercisable at any time on...
Source: Law & Health Weekly (2009-07-11)
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