CEL-SCI Corporation (NYSE AMEX: CVM) announced today that it has closed its previously announced registered direct offering for the sale of (i) 13,333,334 shares of its common stock at a price per share of $0.30 and (ii) warrants to purchase up to 12,000,000 shares of CEL-SCI Corporation’s common stock at a purchase price of $0.40. The warrants may be exercised at any time prior to October 6, 2014. CEL-SCI estimates the net offering proceeds to be $3.85 million. Proceeds from the transaction will be used for general corporate purposes, including clinical trial expenses for CEL-SCI’s Phase III clinical trials involving Multikine® (Leukocyte Interleukin, Injection)*.
