Oncothyreon announces commitments to purchase $15.0 million of company securities in a registered direct financing

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[{"type":"text","content":"\n\n\n\nSEATTLE, Aug. 4 /CNW/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY)\nannounced today that it has obtained commitments from several investors to\npurchase approximately 2.28 million shares of its common stock and warrants to\npurchase approximately 684,000 shares of its common stock for gross proceeds\nof approximately $15.0 million. The investors have agreed to purchase the\nshares and warrants for $6.5775 per unit (each unit consisting of one share\nand a warrant to purchase 0.30 shares of common stock). The exercise price of\nthe warrants will be $6.5775 per share. The warrants will be exercisable at\nany time on or after the closing date and prior to the second anniversary of\nthe closing of the transaction. The closing of the offering is expected to\ntake place on August 7, 2009, subject to satisfaction of customary closing\nconditions. 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 when filed, can\nbe obtained at the Securities and Exchange Commission's website, www.sec.gov,\nfrom Oncothyreon at its Seattle, Washington address below or Rodman & Renshaw\nLLC by 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":2355,"tagName":"div"}]

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