OncoSec Announces $1.33 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules

EWING, N.J. and SAN DIEGO, May 16, 2023 /PRNewswire/ -- OncoSec Medical Incorporated (NASDAQ: ONCS) (the "Company" or "OncoSec"), a clinical-stage biotechnology company developing intratumoral immunotherapies to stimulate the patient's immune system to target cancer cells and eradicate disease, today announced that it has entered into a definitive agreement for the purchase and sale of  an aggregate of 1,408,384 shares of its common stock (or common stock equivalents in lieu thereof), at a purchase price of $0.945 per share (or common stock equivalent in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. The Company has also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 1,408,384 shares of common stock. The warrants will have an exercise price of $0.82 per share, are immediately exercisable upon issuance, and will expire five and one-half years from the date of issuance. The closing of the offering is expected to occur on or about May 18, 2023, subject to the satisfaction of customary closing conditions.

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