OncoSec Announces Closing of the CGP/Sirtex Transaction
OncoSec Medical Incorporated (ONCS)
Last oncosec medical incorporated earnings: 12/13 05:01 pm
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US:NASDAQ Investor Relations:
oncosec.com/tag/investor-relations
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Source: Business Wire
Transaction Provides Immediate Cash Infusion of $30M at Premium to Market Price of $2.50/share SAN DIEGO & PENNINGTON, N.J.--(BUSINESS WIRE)--OncoSec Medical Incorporated (NASDAQ:ONCS) (the “Company” or “OncoSec”), a company developing late-stage intratumoral cancer immunotherapies, today announced that, following shareholder approval, the proposed strategic investment by and partnership (the “CGP/Sirtex Transaction”) with Grand Decade Developments Limited, a wholly owned subsidiary of China Grand Pharmaceutical and Healthcare Holdings Limited (“CGP”), and its U.S. affiliate, Sirtex Medical US Holdings, Inc. (“Sirtex”) has closed.The CGP/Sirtex Transaction brings significant benefits to OncoSec, including:Immediate CapitalAn immediate $30 million cash infusion at $2.50 per share, an approximate 25% premium to the average share price over the 20 days prior to the signing of the deal on October 9, 2019. The capital received today will significantly help fund OncoSec’s ongoing KEYNO
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