New Issue: Oncobiologics wraps $15 million private placement of 5% notes

New York, June 1 – Oncobiologics, Inc. said it settled a final $1.5 million tranche of senior secured promissory notes, raising the total size of the issue to $15 million.

The company issued the last tranche on May 31 along with 499,500 warrants.

It followed $3.5 million with 1,165,500 warrants that was issued on April 13, $1.65 million plus 379,500 shares on Jan. 10 and $8.35 million plus 1,920,500 shares on Dec. 22.

All the notes mature one year after being sold.

Proceeds from the latest tranche will be used for working capital purposes.

Oncobiologics is a biopharmaceutical company is based in Cranbury, N.J.

Issuer:	Oncobiologics, Inc.
Issue:	Senior secured promissory notes
Amount:	$15 million
Maturity:	One year
Coupon:	5%
Warrants:	For 3,965,000 shares (1,920,500 shares with first tranche, 379,500 shares with second, 1,165,500 with third, 499,500 with fourth)
Warrant expiration:	Five years
Warrant strike price:	$3.00
Pricing date:	Dec. 22
Settlement dates:	Dec. 22 (for $8.35 million), Jan. 10 (for $1.65 million), April 13 (for $3.5 million), May 31 (for $1.5 million)
Distribution:	Private placement
Stock symbol:	Nasdaq: ONS
Stock price:	$2.85 at close Jan. 9, $1.52 at close on May 31
Market capitalization:	$37 million

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