Sabby Management Thinks Cel-Sci is a Good Investment
Sabby Management: In a recent SEC filing, Sabby Management disclosed initiating a passive position in CEL-SCI Corporation (NYSEMKT:CVM) through purchasing 4.25 million shares. The stake amasses 8.7% of the company, and has a value of $3.57 million at the current price of Cel-Sci's stock. Sabby did not mention ownership of Cel-Sci shares in its latest 13F.
A couple of days ago, Cel-Sci, which is a late-stage oncology company, disclosed the pricing of its underwritten public offering of common stock and warrants, which amounts to $1 per unit, which includes one share and one warrant to purchase one share. The company is currently at risk of being delisted from the NYSE MKT. Earlier in July, the market in a note announced the company that it is not in compliance with the listing standards. The company had the deadline until September 30 to regain compliance, the date being prolonged until the end of October, the company said in a statement.