Oncothyreon Prices $47.0 Million Public Offering of Common Stock at $4.00 per Share
Oncothyreon Inc. (NASDAQ: ONTY) today announced that it has priced an underwritten public offering of 11,750,000 shares of its common stock at a price to the public of $4.00 per share for gross proceeds of $47.0 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by Oncothyreon, will be approximately $43.6 million.
Oncothyreon has also granted the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover overallotments, if any, which would result in additional gross proceeds of approximately $7.1 million if exercised in full.
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