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Oncolytics Biotech® Prices Public Offering of Units
Oncolytics Biotech® Prices Public Offering of Units Canada NewsWire CALGARY...
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"\n\n\n\nOncolytics Biotech® Prices Public Offering of Units\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, May 24, 2017\n\n\n\n\n\n\n\nCALGARY, May 24, 2017 /CNW/ - Oncolytics Biotech® Inc. (Oncolytics or the Company) (TSX:ONC) (OTCQX:ONCYF) today announced the pricing of an underwritten public offering of 14,300,000 units (Units) at a purchase price of $0.70 per Unit for gross proceeds of $10,010,000 (the Offering). Each Unit will be comprised of one common share (Common Share) of the Company and one common share purchase warrant (Warrant). Each Warrant will entitle the holder thereof to purchase one common share (Warrant Share) in the capital of the Company, for a period of 5 years following the Closing Date of the Offering, at an exercise price of $0.95 per Warrant Share. \n\nThe Warrants will be subject to acceleration if the volume weighted average price of the Company's common shares equals or exceeds $2.50 for 15 consecutive trading days following the Closing Date. In connection with this Offering, Oncolytics has granted the underwriters a 30-day option to purchase up to 2,145,000 additional Units to cover over-allotments, if any. The Offering is expected to close on or about June 1, 2017, subject to customary closing conditions (Closing Date).  \n\nThe Offering will be effected pursuant to a prospectus supplement (the \"Prospectus Supplement\") to the Company's base shelf prospectus dated February 16, 2016 (together with the Prospectus Supplement, the \"Prospectus\"), which has been filed with securities regulators in each of the Provinces of Canada, other than Quebec. The Securities may also be offered for sale in the United States or to, or for the account or benefit of, U.S. persons through one or more United States registered broker-dealer(s) appointed by the underwriters as sub-agent(s) pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state laws. \n\nThe Offering is subject to a number of conditions, including, without limitation, receipt of approval...