Company sells 31 million units of shares and warrants at $0.25 apiece
By Devika Patel
Knoxville, Tenn., March 29 - Oncosec Medical Inc. completed a $7.75 million private placement of units on March 28, according to an 8-K filed Thursday with the Securities and Exchange Commission. The deal priced March 23 and was conducted by agent Rodman & Renshaw, LLC.
The company sold 31 million units of one common share and one warrant at $0.25 apiece.
Each warrant is exercisable at $0.35 for five years. The strike price is a 9.38% premium to $0.32, the March 22 closing share price.
The biomedical company is based in San Diego.
| Issuer: | Oncosec Medical Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $7.75 million
|
| Units: | 31 million
|
| Price: | $0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.35
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Stock symbol: | OTCBB: ONCS
|
| Stock price: | $0.32 at close March 22
|
| Market capitalization: | $10.8 million
|
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