By Sheri Kasprzak
Atlanta, Jan. 11 - Great Expectations and Associates Inc. has wrapped the third tranche in its private placement for subsidiary Advaxis Inc. for $128,000.
The company sold 5.12 units at $25,000 each. The units include 87,108 shares and one five-year warrant.
Each warrant allows for the purchase of 87,108 shares at $0.40 each.
In the first two closings of the private placement, on Nov. 12, investors bought a total of 10,888,502 shares and warrants for 10,888,502 shares.
Great Expectations, which is based in Princeton, N.J., recently acquired Advaxis Inc. and plans to use the proceeds from the offering to develop a phase I clinical trial for Advaxis's Listeria-based therapeutic vaccine and a phase I clinical trial of Lovaxin C, a cancer vaccine.
| Issuer: | Great Expectations and Associates Inc.
|
| Issue: | Units of 87,108 common shares and warrants
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| Amount: | $128,000
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| Units: | 5.12
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| Price: | $25,000
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| Warrants: | One warrant per unit for 87,108 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.40
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| Announcement date: | Nov. 18
|
| Settlement date: | Jan. 4
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