Nuvilex reports plans for $50 million at-the-market sales agreement

Reasonable, best-efforts deal arranged with Chardan Capital Markets

By Devika Patel

Knoxville, Tenn., Nov. 12 – Nuvilex, Inc. negotiated a $50 million at-the-market agreement with Chardan Capital Markets, LLC, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.

Chardan will be paid a 3% commission and will conduct the sales on a reasonable, best-efforts basis.

Proceeds will be used for operations, including general corporate purposes.

The biotechnology company is based in Silver Spring, Md.

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