CEL-SCI Announces Proposed Public Offering Of Common Stock; Size Not Disclosed
Portfolio Pulse from Happy Mohamed
CEL-SCI Corporation (NYSE:CVM) has announced its intention to sell shares of its common stock in an underwritten public offering. The company also plans to grant the underwriter a 45-day option to purchase up to an additional 15% of the number of shares sold in this offering to cover over-allotments. The proceeds from this offering will be used to fund the continued development of Multikine and for general corporate purposes. ThinkEquity is acting as sole book-running manager for the offering.
July 17, 2023 | 8:07 pm
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NEUTRAL IMPACT
CEL-SCI Corporation is planning a public offering of its common stock. The proceeds will be used for the development of Multikine and other corporate purposes.
The announcement of a public offering can have a mixed impact on a company's stock. On one hand, it can dilute existing shares, potentially leading to a decrease in share price. On the other hand, the funds raised can be used for growth and development, which could have a positive long-term impact. In this case, CEL-SCI plans to use the proceeds for the development of Multikine, which could be seen as a positive move by investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100