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CORRECTION: Oncolytics Biotech(R) Announces Pricing of Its USD $3.7M - CDN $4.9M Public Offering of Common Share and Warrants
This is a correction to our previous announcement to highlight currency of the pricing ...
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"CORRECTION: Oncolytics Biotech(R) Announces Pricing of Its USD $3.7M - CDN $4.9M Public Offering of Common Share and WarrantsThis is a correction to our previous announcement to highlight currency of the pricingSAN DIEGO, CA and CALGARY, AB / ACCESSWIRE / August 14, 2019 / Oncolytics Biotech® Inc. (NASDAQ:ONCY) (TSX:ONC) (the “Company”), currently developing pelareorep, an intravenously delivered immuno-oncolytic virus, provides an update to confirm that its previously announced underwritten public offering of USD $3.7M (CDN $4.9M) was priced at USD $0.81 (CDN $1.07).All other details of the previous release are correct and copied below:Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC) (the “Company”), currently developing pelareorep, an intravenously delivered immuno-oncolytic virus, today announced the pricing of its previously announced underwritten public offering (the “Offering”) of 4,619,773 common shares and warrants to purchase up to 4,619,773 common shares at a combined public offering price of $0.81 per share and warrant, resulting in gross proceeds of approximately USD 3.7M. Each warrant has an exercise price of $0.90 per common share, is exercisable immediately and will expire 5 years from the date of issuance. The common shares and the accompanying warrants can only be purchased together in this Offering but will be issued separately. The Offering is expected to close on or about August 16, 2019, subject to the satisfaction of customary closing conditions. Oncolytics has also granted to the underwriter a 30-day option to purchase up to an additional 692,965 common shares and/or warrants to purchase up to 692,965 common shares, at the public offering price per common share and warrant, less underwriter discounts and commissions. The Offering is subject to customary closing conditions, including Nasdaq and TSX approvals.The Company intends to use the net proceeds of this Offering for research and development activities and working capital purposes. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (LTS), is acting as the sole book-running manager in connection with the Offering.The Offering is being made pursuant to a U.S. registration statement on Form F-10, declared effective by the United States Securities and Exchange ...