On August 16, 2020 OncoSec Medical Incorporated (NASDAQ: ONCS) (the "Company" or "OncoSec") reported that in connection with its previously announced offering of common stock, it has entered into purchase agreements for the purchase of an aggregate 4,608,589 shares of the Company at an offering price of $3.25 per share for aggregate gross proceeds of approximately $15 million, before placement agent fees and other offering expenses (Press release, OncoSec Medical, AUG 16, 2020, View Source [SID1234563709]). The offering is expected to close on or about August 19, 2020.
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The Company intends to use the net proceeds from this offering for clinical, regulatory, manufacturing and, if and when approved, potential commercial activities of its product candidates; research and development activities, including potential acquisitions and in-licensing; and other general corporate purposes.
ThinkEquity, a division of Fordham Financial Management, Inc., and Torreya Capital, LLC are acting as the exclusive placement agents for the offering.
All of the common stock in this offering were offered on a best efforts, any and all basis pursuant to an effective shelf registration statement on Form S-3 (File No. 333-233447). A prospectus supplement relating to the offering will be filed by the Company with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained from ThinkEquity, 17 State Street, 22nd Floor, New York, NY 10004, by telephone at (877) 436-3673, by email at [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.