Deal funds company's clinical trial program and manufacturing program
By Devika Patel
Knoxville, Tenn., Feb. 20 - Oncolytics Biotech Inc. said it priced a $32 million public sale of stock with a $4.8 million greenshoe. The offering was announced Tuesday.
The company will sell 8 million common shares at $4.00 per share. The price per share is a 14.35% discount to the Feb. 19 closing share price of $4.67.
Piper Jaffray & Co. and Wedbush PacGrow Life Sciences are the joint bookrunning managers.
Settlement is expected Feb. 25.
Proceeds will be used for the company's clinical trial program, manufacturing program and general corporate and working capital purposes.
Oncolytics is a biotechnology company based in Calgary, Alta.
| Issuer: | Oncolytics Biotech Inc.
|
| Issue: | Common stock
|
| Amount: | $32 million
|
| Greenshoe: | $4.8 million
|
| Shares: | 8 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunners: | Piper Jaffray & Co. and Wedbush PacGrow Life Sciences
|
| Co-manager: | Paradigm Capital Inc.
|
| Announcement date: | Feb. 19
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 25
|
| Stock symbol: | Nasdaq: ONCY
|
| Stock price: | $4.67 at close Feb. 19
|
| Market capitalization: | $311.76 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
