Company names JMP Securities lead, ROTH Capital Partners as co-agent
By Devika Patel
Knoxville, Tenn., Sept. 27 - Oncothyreon Inc. gave further information on a private placement of 4,242,870 units it is selling at $3.50 per unit in an 8-K filed Monday with the Securities and Exchange Commission. JMP Securities LLC is the lead agent for the $14.85 million offering and ROTH Capital Partners, LLC is the co-agent.
The purchase price per unit represents a discount of approximately 7.2% to the 30-day trailing volume-weighted average price of the company's common stock through Sept. 23, the pricing date.
The units each consist of one common share and one warrant for 0.75 of a share. Each whole five-year warrant is exercisable at $4.20, which is identical to the Sept. 23 closing share price.
Settlement is expected Sept. 28.
Proceeds will be used for general corporate purposes.
Oncothyreon is an Edmonton, Alta., biotechnology company.
| Issuer: | Oncothyreon Inc.
|
| Issue: | Units of one common share and one warrant for 0.75 of a share
|
| Amount: | $14,850,045
|
| Units: | 4,242,870
|
| Price: | $3.50
|
| Warrants: | One warrant for 0.75 of a share per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.20
|
| Agent: | JMP Securities LLC (lead), ROTH Capital Partners, LLC (co-agent)
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 28
|
| Stock symbol: | Nasdaq: ONTY
|
| Stock price: | $4.20 at close Sept. 23
|
| Market capitalization: | $87.24 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.
