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OncoSec Medical inks $7M direct capital raise; shares down 11%

Published 10/23/2017, 10:50 AM
© Reuters.  OncoSec Medical inks $7M direct capital raise; shares down 11%
ONCSQ
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  • OncoSec Medical (ONCS -11.3%) slips on triple normal volume in response to its agreement with accredited investors to sell 5,270,934 shares of common stock at $1.34375 per share plus 5 1/2-year warrants to purchase up to 3,953,200 shares of common at $1.25. The offering should close by October 25.
  • Net proceeds of ~$6.2M will fund working capital and general corporate purposes.
  • Friday's close was $1.251.
  • Now read: Biotech Analysis Central Launched: Exclusive Research From Terry Chrisomalis


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