By Sheri Kasprzak
New York, Dec. 13 - Oncolytics Biotech Inc. has entered into agreements for a C$16.48 million private placement.
The company intends to sell to several institutional investors 3.2 million units at C$5.15 each.
The units are comprised of one share and one half-share warrant. The full warrants are exercisable at C$6.15 each for three years.
The offering is scheduled to close Dec. 29.
Proceed swill be used to initiate the company's phase 2 clinical program. The remainder will be used for general corporate purposes.
Calgary, Alta.-based Oncolytics is a biotechnology company focused on developing therapies for cancer.
| Issuer: | Oncolytics Biotech Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$16.48 million
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| Units: | 3.2 million
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| Price: | C$5.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$6.15
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 29
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| Stock price: | C$5.77 at close Dec. 12
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