Oncothyreon announces closing of $11.1 million registered direct financing

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[{"type":"text","content":"\n\n\n\nSEATTLE, May 27 /CNW/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY)\nannounced today that it closed its previously announced sale of 3,878,993\nshares of its common stock and warrants to purchase 2,909,244 shares of its\ncommon stock for gross proceeds of approximately $11.1 million on May 26,\n2009. Oncothyreon sold the shares and warrants for $2.85 per unit (each unit\nconsisting of one share and a warrant to purchase 0.75 shares of common\nstock). The exercise price of the warrants is $3.92 per share. The warrants\nwill be exercisable at any time on or after the six-month anniversary and on\nor prior to the fifth anniversary of the closing of the transaction on May 26,\n2009. Oncothyreon plans to use the proceeds from this financing for general\ncorporate purposes. Boenning & Scattergood, Inc. acted as exclusive placement\nagent in the transaction.\n\n\nA registration statement relating to these securities (File No.\n333-149837) has been declared effective by the Securities and Exchange\nCommission. This press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy nor, shall there be any sale of these\nsecurities in any jurisdiction in which such an offer, solicitation or sale\nwould be unlawful prior to registration or qualification under the securities\nlaws of any such jurisdiction. Any offer of these securities will be solely by\nmeans of a prospectus included in the registration statement and any\nprospectus supplement that may be issued with respect to such offering. Copies\nof the final prospectus, including the prospectus supplement, can be obtained\nat the Securities and Exchange Commission's website, www.sec.gov, from\nOncothyreon at its Seattle, Washington address below or Boenning &\nScattergood, Inc. by calling 1-800-883-1212.\n\n\nAbout Oncothyreon\n\n\nOncothyreon is a biotechnology company specializing in the development of\ninnovative therapeutic products for the treatment of cancer.\n\n\n","length":2019,"tagName":"div"}]

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