Attached files
EXHIBIT 99.2
8229 Boone Boulevard, Suite 802 COMPANY CONTACT:
Vienna, VA 22182. USA Gavin de Windt
Telephone (703) 506-9460 CEL-SCI Corporation
www.cel-sci.com (703) 506-9460
CEL-SCI PRICES UP TO $16 MILLION PUBLIC OFFERING
OF COMMON STOCK AND WARRANTS
Vienna, VA, May 22, 2015 - CEL-SCI Corporation (NYSE MKT: CVM) ("CEL SCI" or the
"Company") today announced that it has priced a best efforts offering of common
stock and warrants at a combined price of $0.79 per unit of securities for
aggregate gross proceeds of up to $16 million, prior to deducting placement
agent commissions and offering expenses. Each unit consists of one share of
common stock and one warrant to purchase one share of common stock. The common
stock and warrants will separate immediately. The warrants are immediately
exercisable, expire in five-years and have an exercise price of $0.79 per share.
This offering is expected to close on or about May 28, 2015, subject to the
satisfaction of customary closing conditions.
CEL-SCI intends to use the net proceeds of the offering for its Phase III
clinical trial, an ongoing Phase I study in HIV/HPV co-infected patients other
research and development, repayment of a $1.1 million note, held in a trust of
which the Company's chief executive officer is the trustee and a beneficiary,
due in July 2015 and general and administrative expenses. Dawson James
Securities, Inc. is acting as the sole placement agent for the proposed offering
on a best efforts basis.
A shelf registration statement on Form S-3 declared effective by the Securities
and Exchange Commission ("SEC") on July 8, 2014, a preliminary prospectus
supplement and accompanying prospectus related to the offering have been filed
with the SEC and are available on the SEC's website located at
http://www.sec.gov. The offering may be made only by means of the prospectus
supplement and accompanying prospectus, copies of which may be obtained from
Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal
Highway, 5th Floor, Boca Raton, FL 33432, mmaclaren@dawsonjames.com or toll free
at 866.928.0928.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the securities
laws of such state or other jurisdiction.
1
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. When used in this press release,
the words "intends," "believes," "anticipated," "plans" and "expects" and
similar expressions are intended to identify forward-looking statements.
Forward-looking statements include, without limitation, the Company's ability to
complete the proposed offering. Such statements are subject to risks and
uncertainties which could cause actual results to differ materially from those
projected. CEL-SCI undertakes no obligation to publicly release the result of
any revision to these forward-looking statements that may be made to reflect the
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events