Cel Sci Corporation (CVM)

[thinkingonlygreen]

So this was the arrangement for the sale. "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.

So the bottom line is the underwriter has decided to purchase 90,959 more shares @ $9.07. For them to decide do this with the share price now at $8.63 they must have confidence this will go much higher so as to make a profit. That's what I'm thinking. IMHO