ImmunoCellular to sell 45 million units of one share and 0.75 warrants

Deal funds clinical trials, research, development, corporate purposes

By Devika Patel

Knoxville, Tenn., Aug. 8 – ImmunoCellular Therapeutics, Ltd. will sell 45 million units in its public offering with a 45-day greenshoe of 6.75 million additional units, according to an S-1/A filed Monday with the Securities and Exchange Commission. The company has registered up to $17,595,000 of underlying stock for the deal, which was announced on June 1.

The units will each consist of either one common share or one prefunded warrant and 0.75 warrants, with each whole warrant exercisable for five years at a price equal to the closing price of the company’s share on the day before pricing. Each prefunded warrant will be exercisable at $0.01 for 10 years.

Maxim Group LLC is the bookrunner, and Laidlaw & Co. (UK) Ltd. is the lead manager.

Proceeds will be used for clinical trials, research and development, working capital and general corporate purposes.

ImmunoCellular, based in Los Angeles, develops cellular treatments for brain cancer and neurodegenerative disorders.

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