Why CEL-SCI (CVM) Shares Are Down 20%
Portfolio Pulse from Henry Khederian
CEL-SCI Corporation's shares are down by 21.3% after the company priced its public offering of 2.5 million shares at $2.00 per share, expected to generate $5 million. The proceeds will fund the development of Multikine and support general corporate purposes. The closing is scheduled for July 20.
July 18, 2023 | 3:07 pm
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NEGATIVE IMPACT
CEL-SCI Corporation's stock price has dropped due to the pricing of its public offering. The proceeds will be used for the development of Multikine and other corporate purposes.
The drop in CEL-SCI Corporation's stock price is directly related to the pricing of its public offering. The lower price per share compared to the current trading price has led to a decrease in the stock's value. However, the funds raised will be used for the development of Multikine, which could potentially lead to future growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100