By Devika Patel
Knoxville, Tenn., July 7 - Oncothyreon Inc. arranged a $20 million two-year committed equity financing facility with Small Cap Biotech Value, Ltd. on July 6, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
Under the agreement's terms, Small Cap is committed to purchase the shares at a pre-negotiated discount of between 5% and 7% to the daily volume weighted average price of Oncothyreon's common stock over a preceding period of 10 trading days.
Reedland Capital Partners is the agent.
Oncothyreon is an Edmonton, Alta., biotechnology company.
| Issuer: | Oncothyreon Inc.
|
| Issue: | Committed equity financing facility
|
| Amount: | $20 million
|
| Tenor: | Two years
|
| Price: | Pre-negotiated discount of between 5% and 7%
|
| Warrants: | No
|
| Agent: | Reedland Capital Partners
|
| Investor: | Small Cap Biotech Value, Ltd.
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| Pricing date: | July 6
|
| Stock symbol: | Nasdaq: ONTY
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| Stock price: | $3.27 at close July 6
|
| Market capitalization: | $86.5 million
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