Oncolytics Biotech (ONCY) Announces Terms of 4.25M Unit Offering
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Oncolytics Biotech Inc. (NASDAQ: ONCY) announced today that it has entered into an underwriting agreement for an offering of 4,250,000 units, each comprised of one common share and 0.4 of a common share purchase warrant, at a price of $3.00 per unit to raise gross proceeds of $12,750,000. Each whole common share purchase warrant entitles the holder to acquire one common share of Oncolytics upon payment of $3.50, exercisable for a five year period commencing on the closing date of the offering, subject to an acceleration of the expiry date in certain circumstances.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the offering. Canaccord Adams Inc. and Bloom Burton & Co. are acting as co-managers for the offering.
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