Company also conducts $20 million offering of convertible preferreds
By Devika Patel
Knoxville, Tenn., Sept. 18 – Oncothyreon Inc. said it priced a $20 million public sale of stock with a $3 million greenshoe. The deal was announced Wednesday and will be conducted alongside a $20 million concurrent public sale of series A convertible preferred stock.
The company will sell 10 million common shares at $2.00 per share. The price per share is identical to the Sept. 17 closing share price.
Cowen and Co., LLC is the sole book-running manager, and is also the bookrunner for the public offering of 10,000 preferreds at $2,000 each.
Each non-voting series A convertible preferred share is convertible into 1,000 shares of common stock.
Settlement of both deals is expected Sept. 23.
Proceeds will be used for development of ONT-380 and ONT-10 and general corporate purposes.
Oncothyreon is a Seattle biotechnology company.
| Issuer: | Oncothyreon Inc.
|
| Issue: | Common stock, series A convertible preferred stock
|
| Bookrunner: | Cowen and Co., LLC
|
| Co-manager: | H.C. Wainwright & Co., LLC
|
| Announcement date: | Sept. 17
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Stock symbol: | Nasdaq: ONTY
|
| Stock price: | $2.00 at close Sept. 17
|
| Market capitalization: | $152.95 million
|
|
|
| Common stock
|
| Amount: | $20 million
|
| Greenshoe: | $3 million
|
| Shares: | 10 million
|
| Price: | $2.00
|
| Warrants: | No
|
|
|
| Convertible preferreds
|
| Amount: | $20 million
|
| Shares: | 10,000
|
| Price: | $2,000
|
| Conversion ratio: | Each share convertible into 1,000 common shares
|
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