VIENNA, Va.--(BUSINESS WIRE)--CEL-SCI Corporation (NYSE American:CVM) today announced it has entered into a definitive agreement with institutional investors for an offering of shares of common stock with gross proceeds of approximately $3.5 million in a registered direct offering. The closing of the offering is expected to take place on or about August 28, 2017, subject to the satisfaction of customary closing conditions.

In connection with the offering, CEL-SCI will issue approximately 1,750,000 registered shares of common stock at a purchase price of $2.00 per share. Concurrently in a private placement, the Company will issue warrants to purchase up to 1,750,000 shares of its common stock. For each share of common stock purchased in the registered direct offering, the investors in the private placement will receive from CEL-SCI an unregistered warrant to purchase one share of common stock. The warrants have an exercise price of $2.30 per share, will be exercisable upon the 6 month anniversary of the issue date, and will expire five and a half years from the issue date.

Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, is acting as the exclusive placement agent in connection with the offering.

CEL-SCI intends to use the net proceeds from the offering for the Phase 3 clinical study and general corporate purposes.

About CEL-SCI Corporation

CEL-SCI's work is focused on finding the best way to activate the immune system to fight cancer and infectious diseases. Its lead investigational immunotherapy, Multikine* (Leukocyte Interleukin, Injection), is currently being studied in a pivotal Phase 3 clinical trial as a potential neoadjuvant treatment for patients with squamous cell carcinoma of the head and neck. The study was designed with the objective that, if the study endpoint, which is an improvement in overall survival of the subjects treated with the Multikine treatment regimen plus the current standard of care (SOC) as compared to subjects treated with the current SOC only, is satisfied, the study results will be used to support applications that the Company plans to submit to regulatory agencies in order to seek commercial marketing approvals for Multikine in major markets around the world. CEL-SCI has patents on Multikine from the US, Europe, China, and Japan.