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OncoSec Medical ( NASDAQ: ONCS ) is trading ~12 % higher after it said it had entered a $2M registered direct offering priced at-the-market.
The company will purchase and sell 1.58M shares of its common stock at a purchase price of $1.25 per share.
The company had also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 1.58M shares at $1.12 per share.
ONCS expects to use the net proceeds as working capital for general corporate purposes .