Oncolytics to Sell Shares at C$4.20 Each
Oncolytics Biotech Inc. (NASDAQ: ONCY) today announced that it has entered into an agreement with a syndicate of underwriters pursuant to which they have agreed to purchase, on a bought deal basis, 3,572,000 common shares (the "Shares") of the Company at a price of Cdn$4.20 per Share for gross proceeds to the Company of approximately Cdn$15,002,400 (the "Offering"). The Offering will be conducted through a syndicate of underwriters led by Paradigm Capital Inc., and including Canaccord Genuity Corp., RBC Capital Markets, Bloom Burton & Co. Inc., and Byron Capital Markets Ltd., (collectively the "Underwriters"). In addition, the Corporation has agreed to grant to the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 15% of the number of Shares sold under the Offering at a price of Cdn$4.20 per share, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering. In the event that the Over-Allotment Option is exercised in its entirety, the aggregate gross proceeds of the Offering to Oncolytics will be approximately Cdn$17,252,760.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.