Griffin Securities raises funds for clinical trials, working capital
By Devika Patel
Knoxville, Tenn., Nov. 15 - Oragenics, Inc. priced an $11 million public offering of stock, according to an 8-K and prospectus supplement filed Friday with the Securities and Exchange Commission. The deal was announced Thursday.
The company will sell 4.4 million common shares at $2.50 apiece on a firm-commitment basis. The price per share is a 10.71% discount to the Nov. 14 closing share price of $2.80.
Intrexon Corp. will participate.
Griffin Securities, Inc. is the underwriter.
Settlement is expected Nov. 20.
Proceeds will be used for development of the company's lantibiotics program and general corporate and working capital purposes.
Oragenics is a Tampa, Fla.-based biopharmaceutical company focused on novel antibiotics for infectious disease and probiotics for oral health for humans and pets.
| Issuer: | Oragenics, Inc.
|
| Issue: | Common shares
|
| Amount: | $11 million
|
| Shares: | 4.4 million
|
| Price: | $2.50
|
| Warrants: | No
|
| Underwriter: | Griffin Securities, Inc.
|
| Investor: | Intrexon Corp.
|
| Announcement date: | Nov. 14
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 20
|
| Stock symbol: | NYSE: OGEN
|
| Stock price: | $2.80 at close Nov. 14
|
| Market capitalization: | $83.28 million
|
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