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CEL-SCI Corporation Announces The Closing Of Its $4 Million Registered Direct Offering Of Common Stock And Warrants

Stocks in this article: CVM

CEL-SCI Corporation (NYSE AMEX: CVM) announced today that it has closed its previously announced registered direct offering for the sale of (i) 13,333,334 shares of its common stock at a price per share of $0.30 and (ii) warrants to purchase up to 12,000,000 shares of CEL-SCI Corporation’s common stock at a purchase price of $0.40. The warrants may be exercised at any time prior to October 6, 2014.

CEL-SCI estimates the net offering proceeds to be $3.85 million. Proceeds from the transaction will be used for general corporate purposes, including clinical trial expenses for CEL-SCI’s Phase III clinical trials involving Multikine ® (Leukocyte Interleukin, Injection)*.

Chardan Capital Markets, LLC acted as the exclusive placement agent for the transaction. Roth Capital Partners served as the financial advisor to CEL-SCI in the transaction.

All of the securities were offered pursuant to an effective shelf registration statement. A shelf registration statement relating to the shares of common stock and warrants issued in the offering (and the shares of common stock issuable upon exercise of the warrants) has been filed with, and declared effective by, the Securities and Exchange Commission (the "SEC"). A prospectus supplement relating to the offering has been filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained at the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of our shares of common stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.

About CEL-SCI

CEL-SCI is dedicated to research and development directed at improving the treatment of cancer and other diseases by utilizing the immune system, the body's natural defense system. Its lead investigational therapy is Multikine (Leukocyte Interleukin, Injection), currently being studied in a pivotal global Phase III clinical trial. CEL-SCI is also developing (and investigating) an immunotherapy (LEAPS-H1N1-DC) as a possible treatment for H1N1 hospitalized patients and as a vaccine (CEL-2000) for Rheumatoid Arthritis (currently in preclinical testing) using its LEAPS technology platform. The investigational immunotherapy LEAPS-H1N1-DC treatment involves non-changing regions of H1N1 Pandemic Flu, Avian Flu (H5N1), and the Spanish Flu, as CEL-SCI scientists are very concerned about the possible emergence of a new more virulent hybrid virus through the combination of H1N1 and Avian Flu, or maybe Spanish Flu. The Company has operations in Vienna, Virginia, and in/near Baltimore, Maryland.

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