By Rebecca Melvin
New York, Sept. 18 – Oncothyreon Inc. has priced $20 million of series A convertible preferred stock, or 10,000 shares at $2,000 each, in a private offering, according to a news release.
Oncothyreon has also priced 10 million shares of common stock in a secondary offering for $20 million.
Cowen & Co. was the bookrunner of the preferred stock deal.
Proceeds of both offerings, which are not contingent upon each other, are earmarked to fund the development of ONT-380 and ONT-10 and for general corporate purposes, including research and product development.
Oncothyreon is a Seattle-based biotechnology company.
| Issuer: | Oncothyreon Inc.
|
| Issue: | Convertible preferred shares
|
| Amount: | $20 million, or 10,000 shares at $2,000 each
|
| Concurrent offering: | $20 million of common stock, or 10 million shares at $2.00 each
|
| Bookrunner: | Cowen & Co. LLC
|
| Co-manager: | H.C. Wainwright & Co. LLC
|
| Price: | Par, $2,000
|
| Conversion price: | $2.00
|
| Conversion ratio: 1,000
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 23
|
| Stock symbol: | Nasdaq: ONTY
|
| Stock reference price: | $2.00 at close on Sept. 17
|
| Distribution: | Off shelf
|
| Market capitalization: | $155.01 million
|
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