CEL-SCI Sells Stock

CEL-SCI Corp. has completed a $7 million equity placement with Advantage Fund II Ltd. and Koch Investment Group Ltd., according to a Securities and Exchange Commission filing.

Advantage received 533,333 common shares and 214,724 Series C warrants for its $4 million commitment. Koch’s $3 million participation netted 400,000 shares and 161,043 thousand warrants. The warrants carry an exercise price of $8.50.

The Vienna, Va.-based issuer will use the proceeds from the offering to redeem outstanding equity securities, settle pending litigation and provide for working capital.

Management estimates that the company’s cash position now exceeds $16 million.