CEL-SCI Announces the Closing of Its $5.5 Million Underwritten Offering

CEL-SCI Corporation (NYSE American: CVM) announced the closing of an underwritten public offering of 606,395 shares of its common stock at a price of $9.07 per share, for total gross proceeds of approximately $5.5 million, before deducting underwriting discounts and other offering expenses payable by the Company. Additionally, the Company has granted the underwriter a 45-day option to purchase up to 90,959 additional shares to cover over-allotments.

Aegis Capital Corp. acted as the sole bookrunner for the offering.

This offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-226558) previously filed with the U.S. Securities and Exchange Commission (the "SEC"). A prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov and may be obtained from Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release includes statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to risks and uncertainties that are often difficult to predict, are beyond the company’s control, and which may cause results to differ materially from expectations. Accordingly, investors should not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. For a discussion of the most significant risks and uncertainties associated with the Company’s business, investors are urged to review the company’s filings with the SEC. Except as required by law, the Company undertakes no duty to update any forward-looking statement made herein, whether as a result of new information, future events or otherwise.

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CEL-SCI announces the closing of its $5.5 million underwritten offering