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SUBSEQUENT EVENTS
12 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
SUBSEQUENT EVENTS

 

In accordance with Codification 855-50, “Subsequent Events”, the Company has reviewed subsequent events through the date of the filing.

 

On October 6, 2011, the Company sold 13,333,334 shares of its common stock, at a price per share of $0.30, in a registered direct offering to institutional investors, representing gross proceeds of $4.0 million. Investors also received warrants to purchase up to 12,000,000 shares of the Company’s common stock at a purchase price of $0.40 at any time prior to October 6, 2014. The Company paid Chardan Capital Markets, LLC, the placement agent for this offering, a cash commission of $140,000, and issued 666,667 Series G warrants to Chardan. Each Series G warrant entitles the holder to purchase one share of the Company’s common stock. The Series G warrants may be exercised at any time prior to August 12, 2014 at a price of $0.40 per share. This financing triggered the reset provision for the remaining Series K and the August 2008 investors which resulted in the issuance of an additional 2,069,726 warrants at $0.30 and an additional 833,333 shares.

 

On December 9, 2010 CEL-SCI Corporation (CEL-SCI) entered into an At the Market Issuance Agreement with McNicoll Lewis & Vlak LLC, or MLV, under which CEL-SCI may offer and sell shares of its common stock, having an aggregate offering price of up to $30,000,000 from time to time through MLV acting as agent and/or principal. On December 5, 2011 CEL-SCI, per the terms of the agreement, exercised its right to terminate the agreement.