EXHIBIT 99.1
8229 Boone Boulevard, Suite 802 COMPANY CONTACT:
Vienna, VA 22182. USA Gavin de Windt
Telephone (703) 506-9460 CEL-SCI Corporation
www.cel-sci.com (703) 506-9460
CEL-SCI CORPORATION TO RAISE $1 MILLION IN REGISTERED DIRECT OFFERING
Vienna, VA, October 21, 2014 - CEL-SCI Corporation (NYSE MKT: CVM), a late-stage
oncology company, has agreed to sell common stock and warrants in a registered
direct offering to European investors at a combined price of $0.76 for aggregate
gross proceeds of a little over $1 million. For every four shares sold, we will
issue to investors in this offering one warrant to purchase a share of common
stock. The warrants are immediately exercisable, expire October 11, 2018, have
an exercise price of $1.25 and trade on the NYSE MKT under the symbol "CVM WS".
The offering is expected to close on or about October 24, 2014, subject to the
satisfaction of customary closing conditions.
This is in addition to the $6 million expected to be raised in a separate
underwritten public offering.
CEL-SCI intends to use the net proceeds of the offering for its Phase III
clinical trial, other research and development, and general and administrative
expenses.
The shares and warrants are being offered by CEL-SCI pursuant to an effective
shelf registration statement declared effective by the Securities and Exchange
Commission on July 8, 2014.
This press release does not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the securities laws
of any such jurisdiction.
About CEL-SCI Corporation
CEL-SCI Corporation is dedicated to research and development directed at
improving the treatment of cancer and other diseases by utilizing the immune
system, the body's natural defense system.
Safe Harbor Statement
When used in this release, the words "intends," "believes," "anticipated" and
"expects" and similar expressions are intended to identify forward-looking
statements. Forward-looking statements include, without limitation, the
company's ability to complete the proposed public offering of its common stock
and warrants described above. These forward-looking statements are based on our
current expectations and actual results could differ materially. Such statements
are subject to risks and uncertainties which could cause actual results to
differ materially from those projected, including the risk factors set forth in
CEL-SCI's Form 10-K for the year ended September 30, 2013 and other periodic
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reports filed with the Securities and Exchange Commission. The Company
undertakes no obligation to publicly release the result of any revision to these
forward-looking statements which may be made to reflect the events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events except as required by law.
When used in this press release, the words "intends," "believes," "anticipated",
"plans" and "expects" and similar expressions are intended to identify
forward-looking statements. Such statements are subject to risks and
uncertainties which could cause actual results to differ materially from those
projected. Factors that could cause or contribute to such differences include,
an inability to duplicate the clinical results demonstrated in clinical studies,
timely development of any potential products that can be shown to be safe and
effective, receiving necessary regulatory approvals, difficulties in
manufacturing any of the Company's potential products, inability to raise the
necessary capital and the risk factors set forth from time to time in CEL-SCI
Corporation's SEC filings, including but not limited to its report on Form 10-K
for the year ended September 30, 2013. The Company undertakes no obligation to
publicly release the result of any revision to these forward-looking statements
which may be made to reflect the events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
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