By Sheri Kasprzak
New York, Feb. 10 - Cel-Sci Corp. said it has entered into an agreement with one investor for a $1 million private placement.
The company sold 2.5 million shares at $0.40 each.
The investor will receive warrants for 750,000 shares, exercisable at $0.56 each for five years.
Connected to the offering, Cel-Sci lowered to $0.56 the strike price of 441,176 warrants issued several years ago and extended the maturity to Dec. 1, 2007 from Dec. 1, 2006.
Cel-Sci, based in Vienna, Va., develops treatments for cancer and infectious diseases.
| Issuer: | Cel-Sci Corp.
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| Issue: | Stock
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| Amount: | $1 million
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| Shares: | 2.5 million
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| Price: | $0.40
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| Warrants: | For 750,000 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.56
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| Announcement date: | Feb. 10
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| Stock symbol: | Amex: CVM
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| Stock price: | $0.52 at close Feb. 10
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