CEL-SCI Corp raises $2.45M via direct offering
Ticker: CVM · Form: 8-K · Filed: Nov 13, 2024 · CIK: 725363
Sentiment: neutral
Topics: offering, capital-raise, dilution
TL;DR
CEL-SCI is selling shares at $1.75 to raise $2.45M, closing Nov 15.
AI Summary
CEL-SCI CORPORATION announced on November 12, 2024, that it has entered into a securities purchase agreement with an institutional investor for a registered direct offering. The company will issue approximately 1.4 million shares of its common stock at a price of $1.75 per share, expecting to raise gross proceeds of approximately $2.45 million before deducting offering expenses. This offering is expected to close on November 15, 2024.
Why It Matters
This capital infusion provides CEL-SCI with additional funds to continue its operations and potentially advance its research and development efforts.
Risk Assessment
Risk Level: medium — The company is raising capital through a direct offering, which can dilute existing shareholders and may indicate a need for funds.
Key Numbers
- $2.45M — Gross Proceeds (Funds raised from the direct offering.)
- $1.75 — Price Per Share (The price at which shares are being offered.)
- 1.4 million — Shares Offered (The total number of shares being issued.)
Key Players & Entities
- CEL-SCI CORPORATION (company) — Registrant
- November 12, 2024 (date) — Date of Report
- institutional investor (company) — Purchaser in offering
- 1.4 million (dollar_amount) — Number of shares to be issued
- $1.75 (dollar_amount) — Price per share
- $2.45 million (dollar_amount) — Gross proceeds
- November 15, 2024 (date) — Expected closing date
FAQ
What is the purpose of this securities purchase agreement?
CEL-SCI CORPORATION entered into the agreement for a registered direct offering to raise capital.
How much money does CEL-SCI expect to raise?
The company expects to raise approximately $2.45 million in gross proceeds before deducting offering expenses.
What is the price per share for this offering?
The shares are being offered at a price of $1.75 per share.
When is the expected closing date for this offering?
The offering is expected to close on November 15, 2024.
Who is purchasing the shares in this direct offering?
The shares are being purchased by an institutional investor.
Filing Stats: 757 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-11-13 08:30:30
Filing Documents
- cvm_8k.htm (8-K) — 24KB
- 0001654954-24-014204.txt ( ) — 144KB
- cvm-20241112.xsd (EX-101.SCH) — 6KB
- cvm-20241112_lab.xml (EX-101.LAB) — 14KB
- cvm-20241112_cal.xml (EX-101.CAL) — 1KB
- cvm-20241112_pre.xml (EX-101.PRE) — 9KB
- cvm-20241112_def.xml (EX-101.DEF) — 2KB
- cvm_8k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. CEL-SCI Corporation recently reached an agreement with Dr. Nabil F. Saba, MD, FACP to serve as the confirmatory global Phase III clinical trial Lead, as a member of the Study Steering Committee, for CEL-SCI's upcoming confirmatory registration study for Multikine in newly diagnosed head and neck cancer. Dr. Saba is a nationally and internationally recognized expert in head and neck cancer and is professor and vice chair in the Department of Hematology and Medical Oncology at Emory University School of Medicine, and the Inaugural Lynne and Howard Halpern Chair in Head and Neck Cancer Research at Emory University School of Medicine. He holds a joint appointment as professor in the Department of Otolaryngology at Emory University School of Medicine. He serves as director of the Head and Neck Cancer Medical Oncology Program and is co-leader of the Multidisciplinary Head and Neck Program at Winship Cancer Institute of Emory University. Dr. Saba's work is focused on translational research and the study and development of novel therapeutic agents and modalities. He has served as principal investigator in more than 50 clinical trials and chairs national as well as investigator initiated multi-institution studies focusing on novel approaches for treating head and neck and esophageal cancer. Dr. Saba has also been instrumental in establishing the head and neck cancer research working group at Winship Cancer Institute and is the contact principal investigator of the Lead Academic Participating Site ( LAPS ) grant of the NCI's National Clinical Trials Network (NCTN). Dr. Saba has been elected for two terms as chair and chair emeritus of the National Cancer Institute's task force for recurrent metastatic head and neck cancer and chaired the Rare Tumors Task Force of the National Cancer Institute's Head and Neck Cancer Steering Committee. He is an active member of the NRG Oncology and Eastern Cooperative Oncology Group Head and Neck Cancer Core Commi
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 13, 2024 CEL-SCI CORPORATION By: /s/ Geert Kersten Geert Kersten Chief Executive Officer 3