OncoSec Medical Incorporated (NasdaqCM:ONCS) announced a private placement of common shares for a gross proceeds of $30,000,000 on January 14, 2020. The transaction will include participation from Alpha Holdings, Inc. (KOSDAQ:A117670). The company will receive the funding in two tranches, first tranche of $10,000,000 would be at a purchase price of $2.50 per share and would be completed within six months of the alpha and the company entering into agreement and second tranche of $20,000,000 would be purchased at a premium of 25% of the volume weighted average price of its common stock for the 30 days prior to the date second tranche.

The purchase of the second tranche of common stock would be completed no later than one year after Alpha and company enter into an agreement. The transaction is subject to the cancellation of transaction dated October 10, 2019, between company and China Grand and company, Sirtex Medical US Holdings, Inc., an affiliate of China Grand.