CEL-SCI Corporation announced the closing of a best-efforts public offering on December 31, 2024. The offering involved 16,130,000 shares of its common stock, or pre-funded warrants in lieu thereof.
Each share of common stock or pre-funded warrant was sold at an offering price of $0.31 per share, resulting in gross proceeds of approximately $5,000,000 before deducting placement agent fees and other offering expenses.
The company intends to use the net proceeds from this offering to fund the continued development of Multikine, for general corporate purposes, and for working capital. This capital infusion is critical for advancing its clinical programs.
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