OncoSec Announces $2 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
2023-04-10 08:32 ET - News Release
April 10, 2023
EWING, N.J. and SAN DIEGO, April 10, 2023 /PRNewswire/ -- OncoSec Medical Incorporated (NASDAQ: ONCS) (the "Company" or "OncoSec"), a clinical-stage biotechnology company developing intratumoral immunotherapies to stimulate the patient's immune system to target cancer cells and eradicate disease, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 1,582,932 shares of its common stock (or common stock equivalents in lieu thereof), at a purchase price of $1.25 per share (or common stock equivalent in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. The Company has also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 1,582,932 shares of common stock. The warrants will have an exercise price of $1.12 per share, are immediately exercisable upon issuance, and will expire five and one-half years from the date of issuance. The closing of the offering is expected to occur on or about April 12, 2023, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.