CEL-SCI prices $5M public offering at 31c per share

CEL-SCI (CVM) announced the pricing of a best-efforts public offering of 16,130,000 shares of its common stock. Each share of common stock is being sold at a public offering price of $0.31 per share. Total gross proceeds from the offering, before deducting the placement agent’s fees and other offering expenses, are expected to be approximately $5,000,000. The offering is expected to close on December 31, 2024, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering to fund the continued development of Multikine, general corporate purposes, and working capital. ThinkEquity is acting as sole placement agent for the offering