OncoSec raises capital

|About: OncoSec Medical Incorp... (ONCS)|By:, SA News Editor

In a registered direct offering, OncoSec Medical (ONCS -10.5%) agrees to sell 22,535,212 shares of common stock at $0.71/share to institutional investors. The investors will also receive warrants to purchase up to an aggregate of 7,887,325 shares of common at $0.90/share for a term of five years. Net proceeds will be ~$15M and will be used for general corporate purposes including funding clinical trials and R&D.