Indication intelligence, analysis and sector perception

Immunocellular (NYSEMKT: IMUC) files 47 M shares offering at $0.16 with 32.25 M warrants to raise $7.4 M

August 9, 2016 9:29am

Who let the dog out …?

The pricing of an underwritten public offering of 47 M shares of its common stock and base warrants to purchase up to 35.25 M shares of its common stock at a public offering price is $0.16 per share and related base warrant, for total expected gross proceeds to IMUC of approximately $7.4 M, before deducting underwriting discounts, commissions, and other offering expenses.

The base warrants have an exercise price of $0.1921 per share of common stock, are exercisable immediately and will expire five years from the date of issuance.

Additionally, ImmunoCellular has granted the underwriters a 45-day option to purchase up to an additional 7,050,000 shares of its common stock and/or base warrants to purchase 5,287,500 shares of its common stock.

Maxim Group is the book runner and Laidlaw is the lead manager

35 companies, 1 interpreter!

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