SEATTLE, WA, Sept. 17, 2014 /PRNewswire/ - Oncothyreon Inc.
(NASDAQ: ONTY) today announced that it intends to offer and sell
shares of its Common Stock and Series A Convertible Preferred Stock
in separate but concurrent underwritten public offerings. The
Series A Convertible Preferred Stock is non-voting and convertible
into shares of Oncothyreon Common Stock, provided that conversion
will be prohibited if, as a result, the holder and its affiliates
would beneficially own more than 4.99% of the Common Stock then
outstanding. As part of the Common Stock offering, Oncothyreon also
expects to grant the underwriters a 30-day option to purchase
additional shares of its common stock to cover over-allotments, if
any. The offerings are being conducted as separate public offerings
by means of separate prospectus supplements, and neither offering
is contingent upon the consummation of the other. The offerings are
subject to market conditions and there can be no assurance as to
whether or when the offerings may be completed, or as to the actual
size or terms of the offerings.
Cowen and Company, LLC is acting as the sole book-running
manager in the offerings.
Each of the offerings is being made to purchasers pursuant to an
effective shelf registration statement filed with the Securities
and Exchange Commission, or SEC. Two preliminary prospectus
supplements and accompanying prospectuses describing the terms of
the offerings will be filed with the SEC. When available,
copies of the preliminary prospectus supplements and accompanying
prospectuses may be obtained by contacting Cowen and Company, LLC,
c/o Broadridge Financial Services, 1155 Long Island Avenue,
Edgewood, NY, 11717, Attn:
Prospectus Department, or by calling (631) 274-2806.
Electronic copies of the preliminary prospectus supplements and
accompanying prospectuses will also be available on the website of
the SEC at http://www.sec.gov.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities of Oncothyreon, nor
shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, the Company's intention to conduct an offering of
securities. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These statements are based on management's
current expectations and beliefs and are subject to a number of
risks, uncertainties and assumptions that could cause actual
results to differ materially from those described in the
forward-looking statements, including, among others, the ability to
manage successfully and complete the offering, the general economic
and/or market conditions and the factors set forth in the Company's
filings with the SEC, including the Company's Annual Report on Form
10-K for the year ended December 31,
2013, the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2014 and the
preliminary prospectus supplements related to the offerings.
The Company undertakes no obligation to update the forward-looking
statements contained herein or to reflect events or circumstances
occurring after the date hereof, other than as may be required by
applicable law.
SOURCE Oncothyreon Inc.