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OncoSec Medical prices $11M common stock, warrants offering

OncoSec Medical Inc. priced a public offering of common stock and warrants to raise about $11 million in gross proceeds.

The Pennington, N.J.-based cancer drug developer is selling 3,492,063 common shares together with warrants to buy up to 2,619,047 common shares at a combined price of $3.15. The five-year warrants are exercisable at $3.45 apiece upon issuance.

The company also granted the underwriter a 45-day option to buy additional common shares or warrants to cover overallotments.

OncoSec expects gross proceeds of about $11 million from the offering, which is expected to close May 24.

A.G.P./Alliance Global Partners is acting as sole book-running manager for the offering.