By Sheri Kasprzak
New York, Nov. 21 - Oragenics, Inc. said it has received a definitive agreement for a $1.2 million private placement.
The company plans to sell up to 3 million shares at $0.40 each to a group of individual investors.
The investors will also receive one warrant for every share purchased. The warrants are exercisable at $0.60 each.
The offering is slated to close Dec. 8.
Proceeds will be used for clinical development of the company's technology and for general corporate purposes.
Based in Alachua, Fla., develops antibiotics used to prevent cavities.
| Issuer: | Oragenics, Inc.
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| Issue: | Stock
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| Amount: | $1.2 million
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| Shares: | 3 million
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| Price: | $0.40
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| Warrants: | One warrant per share
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| Warrant strike price: | $0.60
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| Announcement date: | Nov. 21
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| Settlement date: | Dec. 8
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| Stock price: | $0.60 at close Nov. 21
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