By Devika Patel
Knoxville, Tenn., June 30 - Oragenics, Inc. said it plans a $4 million private placement of stock with the Koski Family LP.
The company will sell 50 million common shares, along with warrants for 1 million shares each exercisable at $0.10 per warrant.
The investment consists of $1.5 million in cash at closing and $2.5 million in the form of a non-interest bearing promissory note.
Proceeds will be used for operations.
Oragenics is an Alachu, Fla.-based biopharmaceutical company.
| Issuer: | Oragenics Inc.
|
| Issue: | Stock
|
| Amount: | $4 million
|
| Shares: | 50 million
|
| Warrants: | For 1 million shares
|
| Warrant strike price: | $0.10
|
| Investor: | Koski Family LP
|
| Settlement date: | June 30
|
| Stock symbol: | Amex: ONI
|
| Stock price: | $0.35 at close June 29
|
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