Deal has 15% greenshoe; proceeds slated for general corporate purposes
By Devika Patel
Knoxville, Tenn., April 29 - Oncothyreon Inc. said it priced a $40 million public sale of common stock. The deal has a 15% greenshoe.
The company will sell 10 million common shares at $4.00 apiece. The price per share is a 19.03% discount to the April 28 closing share price of $4.94.
Cowen and Co., LLC is the bookrunner, and Wedbush PacGrow Life Sciences is the co-manager.
Proceeds will be used to develop PX-866, Oncothyreon's PI-3 Pan-isoform irreversible Kinase inhibitor, and ONT-10, Oncothyreon's proprietary follow-on vaccine to Stimuvax, and for general corporate purposes.
Oncothyreon is a Seattle-based biotechnology company.
| Issuer: | Oncothyreon Inc.
|
| Issue: | Common stock
|
| Amount: | $40 million
|
| Greenshoe: | 15%
|
| Shares: | 10 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Managers: | Cowen and Co., LLC, Wedbush PacGrow Life Sciences
|
| Pricing date: | April 29
|
| Stock symbol: | Nasdaq: ONTY
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| Stock price: | $4.94 at close April 28
|
| Market capitalization: | $138.25 million
|
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