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Advaxis closes $26.5M public offering

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Advaxis Inc., a Princeton biotech specializing in drugs treating cancer and infectious diseases, announced Tuesday the closing of its recent public offering. The company raised $26.5 million in gross proceeds with the offering.

According to the announcement, the public offering consisted of 6.6 million shares of common stock, and warrants to purchase up to an aggregate of 3.3 million shares of its common stock, including 862,500 shares and warrants to purchase 431,250 shares that were offered and sold by Advaxis Inc. pursuant to the full exercise of the underwriters' overallotment option.

Aegis Capital Corp. acted as sole book-running manager for the offering. A team of lawyers from Reed Smith LLP, including Yvan Claude Pierre, Marianne Sarrazin, Malin Delling and Michael Zitelli advised Advaxis.

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