LOS ANGELES, Feb. 12, 2015
/PRNewswire/ -- ImmunoCellular Therapeutics, Ltd.
("ImmunoCellular") (NYSE MKT: IMUC) today announced that it has
priced an underwritten public offering of an aggregate of
26,650,000 shares of its common stock at a price to the public of
$0.60 per share, and warrants to
purchase up to an aggregate of 18,655,000 shares of its common
stock. The net offering proceeds to ImmunoCellular from this
offering are expected to be approximately $14.6 million, after deducting the underwriting
discount and estimated offering expenses payable by ImmunoCellular,
but excluding the exercise of any warrants.
The shares of common stock will be immediately separable from
the warrants and will be issued separately. The warrants are
exercisable immediately upon issuance, have a five-year term and an
exercise price of $0.66 per share.
The warrants will be certificated, and will be delivered to the
investors by physical delivery following the closing. There is no
established public trading market for the warrants and
ImmunoCellular does not expect a market to develop.
The offering is expected to close on or about February 18, 2015, subject to customary closing
conditions.
Roth Capital Partners is acting as the sole manager for the
offering.
ImmunoCellular intends to use the net proceeds of this offering
to enroll its current planned phase III clinical trial of ICT-107,
to complete phase I development of ICT-121, to commence its T-cell
research program, and for working capital and general corporate
purposes. A portion of the net proceeds may be used to acquire
additional technologies.
A registration statement relating to these securities has been
filed with, and declared effective on February 11, 2015 by, the Securities and Exchange
Commission. This offering is being made only by means of a
prospectus forming a part of the effective registration statement.
A copy of the final prospectus relating to the offering, when
available, may be obtained from Roth Capital Partners, LLC, 888 San
Clemente, Newport Beach, CA 92660,
Attention: Equity Capital Markets, or by telephone at (800)
678-9147, or by e-mail at rothecm@roth.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About ImmunoCellular Therapeutics, Ltd.
ImmunoCellular Therapeutics, Ltd. is a Los Angeles-based clinical-stage company that
is developing immune-based therapies for the treatment of brain and
other cancers. ImmunoCellular's lead program is ICT-107, a
dendritic cell-based vaccine targeting multiple tumor-associated
antigens for glioblastoma, for which a phase III registration
program is being planned. ImmunoCellular's pipeline also includes:
ICT-121, a dendritic cell vaccine targeting CD133; ICT-140, a
dendritic cell vaccine targeting ovarian cancer antigens and cancer
stem cells; and the Stem-to-T-cell research program which engineers
the patient's hematopoietic stem cells to generate antigen-specific
cancer killing T-cells.
Contact:
ImmunoCellular Therapeutics, Ltd.
Investor Relations
Jane Green
415.348.0010 direct
415.652.4819 mobile
jane@jmgcomm.com
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SOURCE ImmunoCellular Therapeutics, Ltd.