Oragenics expects to receive gross proceeds of approximately USD 12.5m from the offering.
The offering is expected to close on or about March 25, 2019, subject to customary closing conditions.
H.C. Wainwright and Co. is acting as sole book-running manager for the offering.
Each short-term warrant will have an exercise price of USD 0.75 per share of common stock, will be immediately exercisable, and will expire on the earlier of the eighteen month anniversary of the date of issuance and twenty-one trading days following the company's release of top-line data related to its Phase 2 double blind, placebo controlled clinical trial of AG013.
Each long-term warrant will have an exercise price of USD 0.90 per share of common stock, will be immediately exercisable and will expire five years following the date of issuance.
The company has granted the underwriter a 30-day option to purchase up to 2.5m additional shares of common stock and/or short-term warrants to purchase 1.25m shares of common stock and long-term warrants to purchase 1.25m shares of common stock of the company at the public offering price, less underwriting discounts and commissions.
The company intends to use the net proceeds of the offering to fund its AG013 research, clinical trials, pre-clinical development of the lantibiotics program, and for working capital and general corporate purposes.
About Oragenics, Inc.
We are focused on becoming a leader in novel antibiotics against infectious disease and on developing effective treatments for oral mucositis.
Oragenics, Inc. has established two exclusive worldwide channel collaborations with Intrexon Corp. and its subsidiaries.
The collaborations allow Oragenics to accelerate the development of much needed new antibiotics that can work against resistant strains of bacteria and the development of biotherapeutics for oral mucositis and other diseases and conditions of the oral cavity, throat, and esophagus.
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