By Devika Patel
Knoxville, Tenn., Aug. 4 - Oncothyreon Inc. said it has arranged a $15 million registered direct offering of stock.
The company will sell approximately 2.28 million common shares at $6.5775 per share, along with warrants for approximately 684,000 shares. The shares and warrants are being sold in units of one common share and 0.3 of a warrant.
The warrants are exercisable at $6.5775 for two years.
Rodman & Renshaw, LLC is the agent.
Settlement is expected Aug. 7.
Oncothyreon is an Edmonton, Alta., biotechnology company.
Issuer: | Oncothyreon Inc.
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Issue: | Units of one share and 0.3 of a warrant
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Amount: | $15 million
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Shares: | 2.28 million (approximate)
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Price: | $6.5775
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Warrants: | For approximately 684,000 shares
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Warrant expiration: | Two years
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Warrant strike price: | $6.5775
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Agent: | Rodman & Renshaw, LLC
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Pricing date: | Aug. 4
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Settlement date: | Aug. 7
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Stock symbol: | Nasdaq: ONTY
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Stock price: | $6.56 at close Aug. 3
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Market capitalization: | $118 million
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