Company sells units with half-share warrants through H.C. Wainwright
By Devika Patel
Knoxville, Tenn., Sept. 16- Oncosec Medical Inc. said it priced an $11.95 million registered public offering of units.
The company will sell 47,792,000 units of one common share and one half-share warrant at $0.25 per unit, with each whole warrant exercisable at $0.35 for four years. The strike price is a 9.38% premium to the Sept. 13 closing share price of $0.32.
H.C. Wainwright & Co., LLC is the agent.
Settlement is expected Sept. 19.
Proceeds will be used for general corporate purposes, including clinical trial expenses and research and development expenses.
The biomedical company is based in San Diego.
| Issuer: | Oncosec Medical Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $11,948,000
|
| Units: | 47,792,000
|
| Price: | $0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.35
|
| Agent: | H.C. Wainwright & Co., LLC
|
| Pricing date: | Sept. 16
|
| Settlement date: | Sept. 19
|
| Stock symbol: | OTCBB: ONCS
|
| Stock price: | $0.32 at close Sept. 13
|
| Market capitalization: | $30.98 million
|
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