OncoSec raises capital


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.

Comments (8)
  • pat walsh
    , contributor
    Comments (341) | Send Message
     
    Music to my ears.
    4 Jun 2014, 02:06 PM Reply Like
  • Dirk43
    , contributor
    Comments (28) | Send Message
     
    Really? Including warrants 30 million more shares and looking at the warrant price of 90c up to 5 years out they don't seem to have much confidence in the share price rising in the future.
    4 Jun 2014, 02:53 PM Reply Like
  • Henrydog1
    , contributor
    Comment (1) | Send Message
     
    I take it you were short.
    4 Jun 2014, 03:43 PM Reply Like
  • MichaelJ8
    , contributor
    Comments (869) | Send Message
     
    30 million more shares so the company has funds to go to potential phase III trial... hahaha. I like the deal.
    4 Jun 2014, 08:52 PM Reply Like
  • hautefearbrandnewgod
    , contributor
    Comments (222) | Send Message
     
    i'm 100% sure that Pat is long.
    so am i.

     

    this is also music to my ears.
    5 Jun 2014, 05:34 PM Reply Like
  • mkraus978
    , contributor
    Comments (2) | Send Message
     
    Dirk my thoughts were that the 90c was a nice incentive for the institutional investors to help them raise capital. Saying we believe our share price will be well above that and we'll still give you a nice buy in price. Idk tho
    4 Jun 2014, 05:13 PM Reply Like
  • hautefearbrandnewgod
    , contributor
    Comments (222) | Send Message
     
    yes kraus..that's the way of thinking about it for those without swiss cheese logic
    5 Jun 2014, 04:23 PM Reply Like
  • hautefearbrandnewgod
    , contributor
    Comments (222) | Send Message
     
    A 5 year term for a warrant is standard. it does not mean that they think the PPS will be at .90 in 5 years LOL…
    5 Jun 2014, 05:32 PM Reply Like
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