Oncothyreon announces closing of $15.0 million registered direct financing

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[{"type":"text","content":"\n\n\n\nSEATTLE, Aug. 10 /CNW/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY)\nannounced today that it closed its previously announced sale of approximately\n2.28 million shares of its common stock and warrants to purchase approximately\n684,000 shares of its common stock for gross proceeds of approximately $15.0\nmillion on August 7, 2009. Oncothyreon sold the shares and warrants for\n$6.5775 per unit (each unit consisting of one share and a warrant to purchase\n0.30 shares of common stock). The exercise price of the warrants is $6.5775\nper share. The warrants are exercisable at any time on or after the closing\nand on or prior to the second anniversary of the closing of the transaction on\nAugust 7, 2009. Oncothyreon plans to use the proceeds from this financing for\ngeneral corporate purposes. Rodman & Renshaw, LLC, a wholly-owned subsidiary\nof Rodman & Renshaw Capital Group, Inc. (Nasdaq:RODM), acted as the exclusive\nplacement agent for Oncothyreon. Boenning & Scattergood Inc. acted as\nfinancial advisor to Oncothyreon for the offering.\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 Rodman & Renshaw LLC\nby calling 212-356-0549.\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":2202,"tagName":"div"}]

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