Units sold through Stifel, Nicolaus to fund advancement of apatorsen
By Devika Patel
Knoxville, Tenn., June 26 – OncoGenex Pharmaceuticals, Inc. priced a $24 million public sale of units, according to an FWP filed Thursday with the Securities and Exchange Commission.
The company will sell 5,559,866 series A units of one common share and one half-share warrant at $3.48 per unit, with the whole warrant exercisable at $4.00 for five years. The strike price is a 15.61% premium to the June 25 closing share price of $3.46.
Investors who participate may also buy 1,340,538 series B units of 1.5 warrants at $3.47 per unit. These warrants are exercisable for five years, with the whole warrant exercisable at $0.01 per share and the half-share warrant exercisable at $4.00 per share.
Stifel, Nicolaus & Co., Inc. is the sle bookrunner.
Settlement is expected on July 2.
Proceeds will be used to advance apatorsen as well as for general corporate purposes.
OncoGenex Pharmaceuticals, based in Bothell, Wash., is a biopharmaceutical company engaged in the development and commercialization of cancer therapies.
| Issuer: | OncoGenex Pharmaceuticals, Inc.
|
| Issue: | Series A units of one common share and a half-share warrant, series B units of 1.5 warrants
|
| Amount: | $24 million
|
| Units: | 5,559,866 (series A), 1,340,538 (series B)
|
| Price: | $3.48 (series A), $3.47 (series B)
|
| Warrants: | One half-share warrant per series A unit, 1.5 warrants per series B unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.00, $0.01
|
| Bookrunner: | Stifel, Nicolaus & Co., Inc.
|
| Pricing date: | June 26
|
| Settlement date: | July 2
|
| Stock symbol: | Nasdaq: OGXI
|
| Stock price: | $3.46 at close June 25
|
| Market capitalization: | $50.31 million
|
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