Advaxis Secures $30M Direct Placement Financing

On Aug 16, 2016

Advaxis, Inc., a clinical-stage biotechnology company developing cancer immunotherapies, today announced that it has entered into a definitive securities purchase agreement with healthcare institutional specialist investors to sell approximately 2.2 million shares of its common stock at a price of $13.50 per share in a registered direct offering for gross proceeds of approximately $30 million. The offering is expected to close on or about August 19, 2016, subject to customary closing conditions.

Jefferies LLC and Barclays Capital, Inc. are acting as lead placement agents for the offering. Cantor Fitzgerald & Co. and Guggenheim Securities, LLC are acting as co-placement agents for the offering.

The shares described above are being offered by Advaxis pursuant to a shelf registration statement on Form S-3 (File No. 333-203497) that was declared effective by the Securities and Exchange Commission (SEC) on April 27, 2015. A prospectus supplement and an accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, by contacting Jefferies LLC, 520 Madison Avenue, 2nd Floor, New York, NY, 10022, Attention: Equity Syndicate Prospectus Department, or by telephone at 877-547-6340, or by email at [email protected] or Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (888) 603-5847 or by emailing [email protected]. Investors may also obtain these documents for no charge by visiting the SEC’s website at www.sec.gov.

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