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CEL-SCI Closes Public Offering for Gross Proceeds of $11.5 Million

Wednesday, October 28, 2015  
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CEL-SCI Corporation has closed a best efforts offering of 17,223,248 shares of common stock and 17,223,248 warrants to purchase shares of common stock. The common stock and warrants were sold at a combined price of $0.67 per unit and resulted in aggregate gross proceeds of approximately $11.5 million, prior to deducting placement agent commissions and offering expenses, and excluding the exercise of any warrants. The common stock and warrants will separate immediately. The warrants are immediately exercisable, expire October 28, 2020 and have an exercise price of $0.67 per share.

CEL-SCI intends to use the net proceeds of the offering for its Phase III clinical trial, an ongoing Phase I study in HIV/HPV co-infected patients other research and development, and general and administrative expenses.

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