Advaxis Announces Full Exercise of Underwriters’ Over-Allotment Option
October 18 2013 - 12:45PM
Business Wire
Advaxis, Inc., (NASDAQ: ADXS, ADXSW), a leader in
developing the next generation of immunotherapies for cancer and
infectious diseases, today announced the full exercise of the
over-allotment option granted to the underwriters to purchase an
additional 862,500 shares of its common stock and warrants to
purchase an additional 431,250 shares (15% of the shares and
warrants sold in this offering), at a public offering price of
$4.00 per share and $0.001 per warrant, respectively, in connection
with its previously announced underwritten public offering of
5,750,000 shares of common stock, and warrants to purchase up to an
aggregate of 2,875,000 shares of common stock, bringing the total
gross proceeds from the offering to approximately $26,500,000,
before deducting underwriting discounts and commissions and other
offering expenses payable by Advaxis, Inc. The warrants have a per
share exercise price of $5.00, 125% of the public offering price of
the common stock, are exercisable immediately, and expire five
years from the date of issuance.
Aegis Capital Corp. is acting as sole book-running manager for
the offering.
This offering is being made only by means of a prospectus.
Copies of the prospectus relating to this offering may be obtained
by contacting Aegis Capital Corp., Prospectus Department, 810
Seventh Avenue, 18th Floor, New York, NY 10019, telephone:
212-813-1010, e-mail: prospectus@aegiscap.com.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission
(“SEC”) on October 16, 2013 and an abbreviated registration
statement relating to these securities was effective upon filing
with the SEC on October 16, 2013. 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 an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Advaxis, Inc.
Advaxis is a clinical-stage biotechnology company developing the
next generation of immunotherapies for cancer and infectious
diseases. Advaxis immunotherapies are based on a novel platform
technology using live, attenuated bacteria that are bio-engineered
to secrete an antigen/adjuvant fusion protein(s) that is designed
to redirect the powerful immune response all human beings have to
the bacterium to the cancer itself.
ADXS-HPV is currently being evaluated in four clinical trials
for human papillomavirus (HPV)-associated cancers:
recurrent/refractory cervical cancer (India), locally advanced
cervical cancer (GOG/NCI U.S. study, Clinical Trials.gov Identifier
NCT01266460), head & neck cancer (CRUK study, Clinical
Trials.gov Identifier NCT01598792), and anal cancer (BrUOG study,
Clinical Trials.gov Identifier NCT01671488). Advaxis has over 15
distinct immunotherapies in various stages of development,
developed directly by Advaxis and through strategic collaborations
with recognized centers of excellence such as: the National Cancer
Institute, Cancer Research – UK, the University of Pennsylvania,
the Georgia Regents University Cancer Center, and others.
For more information please visit: www.advaxis.com
Advaxis, Inc.Diana MooreDirector, Investor Relations and
Business Development609-452-9814dmoore@advaxis.comorJenene Thomas
Communications, LLCJenene ThomasInvestor Relations and Corporate
Communications Advisor908-938-1475thomasjenene@gmail.com
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