30-month deal with Lincoln Park sells shares without fixed discount
By Devika Patel
Knoxville, Tenn., Feb. 27 - Oncolytics Biotech Inc. said it negotiated a $25 million share purchase agreement with Lincoln Park Capital Fund, LLC. The deal will have an initial investment of $1 million
Lincoln Park has committed to purchase up to $25 million more of the company's common stock over 30 months. The shares will be sold at a purchase price linked to the prevailing market prices of the stock without any fixed discount.
Oncolytics is a biotechnology company based in Calgary, Alta.
| Issuer: | Oncolytics Biotech Inc.
|
| Issue: | Share purchase agreement
|
| Amount: | $25 million
|
| Tenor: | 30 months
|
| Price: | No fixed discount
|
| Warrants: | No
|
| Investor: | Lincoln Park Capital Fund, LLC
|
| Fees: | 10,125,000 shares
|
| Pricng date: | Feb. 27
|
| Stock symbol: | Nasdaq: ONCY
|
| Stock price: | $1.73 at close Feb. 26
|
| Market capitalization: | $141.55 million
|
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