Company sells units with half-share warrants through Dawson James
By Devika Patel
Knoxville, Tenn., Dec. 13 - Oncosec Medical Inc. priced a $7.2 million public sale of units in a prospectus filed Thursday with the Securities and Exchange Commission. The offering was announced Aug. 24.
The company will sell 28.8 million units of one common share and one half-share warrant at $0.25 per unit, with each whole warrant exercisable at $0.26 for four years. The strike price is a 16.13% discount to the Dec. 12 closing share price of $0.31.
Dawson James Securities, Inc. is the lead agent.
Settlement is expected Jan. 11.
Proceeds will be used to pay amounts owed to Inovio and for clinical development, working capital and general corporate purposes.
The biomedical company is based in San Diego.
| Issuer: | Oncosec Medical Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $7.2 million
|
| Units: | 28.8 million
|
| Price: | $0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.26
|
| Agent: | Dawson James Securities, Inc. (lead)
|
| Announcement date: | Aug. 24
|
| Pricing date: | Dec. 13
|
| Settlement date: | Jan. 11
|
| Stock symbol: | OTCBB: ONCS
|
| Stock price: | $0.31 at close Dec. 12
|
| Market capitalization: | $20.73 million
|
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