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Oncolytics Biotech(R) Announces Pricing of Its Public Offering of Common Share and Warrants
SAN DIEGO, CA & CALGARY, AB / ACCESSWIRE / August 14, 2019 / Oncolytics Biotech &#x...
About this update from Oncolytics Biotech Inc.
[{"type":"text","content":"Oncolytics Biotech(R) Announces Pricing of Its Public Offering of Common Share and WarrantsSAN DIEGO, CA & CALGARY, AB / ACCESSWIRE / August 14, 2019 / 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. (NYSE American: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 Commission (the “SEC”) on May 7, 2018 (the “Registration Statement”), and the Company’s existing Canadian short form base shelf prospectus (the “Base Shelf Prospectus”) dated May 4, 2018. The prospectus supplements relating to the Offering (together with the Base Shelf Prospectus and the Registration Statement, the “Offering Documents”) have been filed with the Alberta Securities Commission in Canada, and with the SEC in the Unit...