OncoSec Medical Inc. priced its underwritten public offering of 13,333,334 common shares at $1.50 apiece to raise gross proceeds of about $20 million.
The company has also granted the underwriters an option to buy up to an additional 2 million common shares on the same terms and conditions.
The offering is expected to close Feb. 5, subject to customary closing conditions.
OncoSec plans to use the net proceeds primarily for a phase 2 trial in skin cancer, for other clinical and research and development activities, and for working capital and general corporate purposes.
Piper Jaffray & Co. is acting as lead book-running manager and Cantor Fitzgerald & Co. is acting as a book runner for the offering.
