CVM - CEL-SCI shares tumble on stock offering plans
2023-07-17 16:34:19 ET
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CEL-SCI ( NYSE: CVM ) plans to offer to sell shares of its common stock in an underwritten public offering, the company said Monday.
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Shares of the company -24% at $2.15 after hours.
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The underwriter has a 45-day option to purchase up to an additional 15% of shares to cover overallotments, if any.
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All of the shares of common stock are being offered by CEL-SCI.
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Pricing terms and the number of shares to be offered were not disclosed.
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The net proceeds from the offering will be used to fund the continued development of Multikine and for general corporate purposes.
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ThinkEquity is acting as the sole bookrunner.
For further details see:
CEL-SCI shares tumble on stock offering plans