CEL-SCI Corp (CVM) Enters $5M Registered Common Stock Direct Offering
- Wall Street opens flat as investors assess earnings
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
- Pre-Open Stock Movers 10/25: (SAEX) (CWEI) (SWFT) Higher; (DPRX) (CRBP) (UA) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
CEL-SCI Corporation (NYSE: CVM) 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.
The net proceeds of the offering will be used for the ongoing Phase 3 study and general corporate purposes.
The securities described above are being offered by CEL-SCI pursuant to a shelf registration statement (File No. 333-205444) previously filed with and subsequently declared effective by the Securities and Exchange Commission (the “SEC”). A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Caterpillar (CAT) Reports World Machine Sales Down 18% in Sept.
- Nabriva (NBRV) Files $75M Mixed Stock Shelf
- FuelCell Energy (FCEL) Says Beacon Falls Energy Park Project Not Selected for New England Clean Energy RFP
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesRodman & Renshaw, H.C. Wainwright
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!