OncoSec Medical Closes $12 Million Public Offering

SAN DIEGO – September 19, 2013 — OncoSec Medical Inc. (OTCQB: ONCS), a company developing its advanced-stage ImmunoPulse DNA-based immunotherapy and NeoPulse therapy to treat solid tumors,

today announced that it has closed a registered public offering of 47,792,000 shares of its common stock at $0.25 per share and warrants to purchase up to 23,896,000 shares of common stock at an exercise price of $0.35 per share for four years.

The gross proceeds of the offering was approximately $12 million. Net proceeds, after deducting the placement agent’s fee and other estimated offering expenses payable by OncoSec, was approximately $11.1 million.

OncoSec intends to use proceeds from the offering for general corporate purposes, including clinical trial expenses and research and development expenses.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the transaction. Maxim Group LLC acted as the financial advisor to OncoSec in connection with the transaction.

Punit Dhillon, President and CEO of OncoSec Medical, said, “This funding further strengthens OncoSec’s treasury and positions the company for future successes as we move the company forward to implement our clinical development strategy for melanoma and Merkel cell carcinoma”.

The securities described above were offered and sold by OncoSec pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission, or the SEC. A final prospectus related to the offering has also been filed with the SEC. Copies of the final prospectus can be obtained directly from OncoSec and at the SEC’s website at www.sec.gov.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of OncoSec’s common stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.

 

Top

Top

Download our Investor Overview:

Subscribe to Our Newsletter.

Subscribe to Our Newsletter:


Be the first to hear about new progress and breakthroughs at OncoSec.