Benzinga | Jun 8, 2021 04:38PM EDT

CEL-SCI Announces Bought Deal Offering For 1M Shares At $22.62/Share

CEL-SCI Corporation (NYSE:CVM, &quot, &gt, ))))), a Phase 3 cancer immunotherapy company,today announced that it has entered into an underwriting agreement with Kingswood Capital Markets, division of Benchmark Investments, LLC under which the underwriter has agreed to purchase on a firm commitment basis a minimum of 1,000,000 shares of common stock of the Company, at a price to the public of $22.62 per share (the "Public Price"), representing a 5% discount to the Company's June 8, 2021 closing share price. The closing of the offering is expected to occur on or about June 11, 2021, subject to customary closing conditions.

Kingswood Capital Markets, division of Benchmark Investments, LLC is acting as sole book-running manager for the offering.

The Company also has granted to the underwriter a 30-day option to purchase up to 15% of the offering at the Public Price. The use of proceeds will be to fund the continued development of Multikine*, LEAPS and for other general corporate purposes.

The shares of common stock described above are being offered by CEL-SCI pursuant to a "shelf" registration statement on Form S-3 (File No. 333-226558) filed with the Securities and Exchange Commission (SEC) and the accompanying prospectus contained therein. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering has been filed with the SEC. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC's website at http://www.sec.gov or by contacting Kingswood Capital Markets, Attention: Syndicate Desk, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at syndicate@kingswoodcm.com, or by telephone at (212) 404-7002.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.