CEL-SCI anticipates USD1.0m from registered direct offering of common stock and warrants.

M2 EQUITYBITES-February 20, 2017-CEL-SCI anticipates USD1.0m from registered direct offering of common stock and warrants

(C)2017 M2 COMMUNICATIONS http://www.m2.com

Immunotherapy company CEL-SCI Corporation (NYSE MKT:CVM) stated on Thursday that it has entered into USD1.0m definitive agreement with institutional investors in a registered direct offering.

As part the offering, the company will issue approximately 10 million registered shares of common stock at a purchase price of USD0.10 per share.

In conjunction with the private placement, the company will issue warrants to purchase up to shares of its common stock.

For each share of common stock purchased, the investor will receive from the company an unregistered warrant to purchase one share of common stock. The warrants have an exercise price of USD0.12 per share, will be exercisable upon the six month anniversary of the issue date and will expire five and a half years from the issue date.

Net proceeds from the offering may be used by the company for the Phase three clinical study as well as for general corporate purposes.

Rodman & Renshaw is the exclusive placement agent. The closing is expected on or about 23 February 2017, subject to the satisfaction of customary closing conditions.

((Comments on this story may be sent to info@m2.com))