Cel-Sci Corp. said Friday that it raised $14 million in a publicoffering of 900,000 units at $15.50 per unit.
Each unit consists of five shares of common stock(NASDAQ:CELI) and five warrants. Each warrant may beexercised to buy one share of common stock at $4.65 per sharethrough Feb. 6, 1995. Cel-Sci shares closed at $3.28, down 22cents, on Friday.
After the offering, the Alexandria, Va., company, which isdeveloping drugs to treat cancer and to treat and prevent AIDS,has 40.7 million shares outstanding. Underwriter KoberFinancial Corp. has a 135,000-unit overallotment option.
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