CEL-SCI Announces the Closing of Its $14.65 Million Bought Deal
December 11 2020 - 11:29AM
Business Wire
CEL-SCI Corporation (NYSE American: CVM), a Phase 3 cancer immunotherapy
company, announced the closing of the offering of 1,000,000
shares of its common stock at a price of $14.65 per share, for
total gross proceeds of $14.65 million, before deducting
underwriting discounts and other offering expenses payable by the
Company. Additionally, the Company has granted the underwriter a
30-day option to purchase up to 150,000 additional shares to cover
over-allotments.
Kingswood Capital Markets, division of Benchmark Investments,
Inc. and Aegis Capital Corp. acted as the joint book-running
managers for the offering.
This offering was made pursuant to a "shelf" registration
statement on Form S-3 (File No. 333-226558) filed with the
Securities and Exchange Commission (SEC). A prospectus supplement
and accompanying base prospectus relating to the offering were
filed with the SEC and are available on the SEC's website at
http://www.sec.gov and may be obtained from Kingswood Capital
Markets, Attention: Syndicate Desk, 17 Battery Place, Suite 625,
New York, NY 10004, by email at syndicate@kingswoodcm.com, or by
telephone at (212) 404-7002.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About CEL-SCI Corporation
CEL-SCI is a clinical-stage biotechnology company focused on
finding the best way to activate the immune system to fight cancer
and infectious diseases. The Company’s lead investigational therapy
Multikine is currently in a pivotal Phase 3 clinical trial
involving head and neck cancer, for which the Company has received
Orphan Drug Status from the FDA. The Company has operations in
Vienna, Virginia, and near Baltimore, Maryland.
Forward-Looking Statements
This press release includes statements that constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and are intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Such statements are based on
management’s current expectations and are subject to risks and
uncertainties that are often difficult to predict, are beyond the
company’s control, and which may cause results to differ materially
from expectations. Accordingly, investors should not to place undue
reliance on these forward-looking statements, which are based on
our expectations as of the date of this press release and speak
only as of the date of this press release. For a discussion of the
most significant risks and uncertainties associated with the
Company’s business, investors are urged to review the company’s
filings with the SEC, including but not limited to its amended
report on Form 10-K/A for the year ended September 30, 2019. Except
as required by law, the Company undertakes no duty to update any
forward-looking statement made herein, whether as a result of new
information, future events or otherwise.
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COMPANY: Gavin de Windt CEL-SCI Corporation (703) 506-9460
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