By Devika Patel
Knoxville, Tenn., May 20 - Oncothyreon Inc. has arranged an $11.06 million registered direct offering of stock, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.
The company will sell 3,878,993 units, with each $2.85 unit consisting of one share and 0.75 of a warrant.
The warrants are exercisable at $3.92 for five years.
Boenning & Scattergood, Inc. is the agent.
Settlement is expected May 26.
Proceeds will be used for general corporate purposes.
Oncothyreon is an Edmonton, Alta., biotechnology company.
Issuer: | Rexahn Pharmaceuticals, Inc.
|
Issue: | Units of one share and 0.75 of a warrant
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Amount: | $11,055,130.05
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Shares: | 3,878,993
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Price: | $2.85
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Warrants: | 0.75 of a warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | $3.92
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Agent: | Boenning & Scattergood, Inc.
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Pricing date: | May 20
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Settlement date: | May 26
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Stock symbol: | Nasdaq: ONTY
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Stock price: | $2.82 at close May 20
|
Market capitalization: | $55 million
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