Oragenics Prices $5.25 Million Common Stock Offering
November 20 2020 - 8:30AM
Business Wire
Oragenics, Inc. (NYSE American: OGEN) (“Oragenics” or the
“Company”), a company focused on the creation of the Terra CoV-2
vaccine candidate to combat the novel coronavirus pandemic, today
announced the pricing of an underwritten public offering of
14,189,189 shares of its common stock at a price to the public of
$0.37 per share. The gross proceeds to the Company from this
offering are expected to be approximately $5,250,000, before
deducting underwriting discounts and commissions and other
estimated offering expenses. Oragenics has granted the underwriters
a 45-day option to purchase up to an additional 2,128,378 shares of
common stock to cover over-allotments, if any. The offering is
expected to close on or about November 24, 2020, subject to
customary closing conditions.
A.G.P./Alliance Group Partners is acting as sole book-running
manager for the offering.
The Company intends to use the net proceeds of the offering
primarily to continue funding our pre-clinical development of our
SARS-CoV-2 vaccine, Terra CoV-2 and our lantibiotics program and
for general corporate purposes, including research and development
activities, capital expenditures and working capital.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (No. 333-235763) previously
filed with the U.S. Securities and Exchange Commission (the “SEC”)
that was declared effective by the SEC on January 13, 2020. A
preliminary prospectus supplement and accompanying prospectus
describing the terms of the proposed offering was filed with the
SEC. Electronic copies of the preliminary prospectus supplement may
be obtained, when available, from A.G.P./Alliance Global Partners,
590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone
at 212-624-2060 or email: prospectus@allianceg.com. Before
investing in this offering, interested parties should read in their
entirety the prospectus supplement and the accompanying prospectus
and the other documents that Oragenics has filed with the SEC that
are incorporated by reference in such prospectus supplement and the
accompanying prospectus, which provide more information about
Oragenics and such offering. The final terms of the proposed
offering will be disclosed in a final prospectus supplement to be
filed with the SEC. The preliminary prospectus supplement and
accompanying prospectus is also available, and the final prospectus
supplement and accompanying prospectus will be available, on the
SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Oragenics, Inc.
Oragenics, Inc. is focused on the creation of the Terra CoV-2
vaccine candidate to combat the novel coronavirus pandemic and the
further development of effective treatments for novel antibiotics
against infectious disease. The Company is dedicated to the
development and commercialization of a vaccine candidate providing
specific immunity from novel coronavirus. The Terra CoV-2
immunization leverages coronavirus spike protein research conducted
by the National Institute of Health. In addition, Oragenics has an
exclusive worldwide channel collaboration with ILH Holdings, Inc.
(n/k/a Eleszto Genetika, Inc.), relating to the development of
novel lantibiotics.
Forward-Looking Statements
This press release contains “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995, as
amended, that involve significant risks and uncertainties about
Oragenics, including but not limited to statements with respect to
the completion, timing, size, and use of proceeds of the proposed
underwritten offering of common stock. Oragenics may use words such
as “expect,” “anticipate,” “project,” “intend,” “plan,” “aim,”
“believe,” “seek,” “estimate,” “can,” “focus,” “will,” and “may”
and similar expressions to identify such forward-looking
statements. Among the important factors that could cause actual
results to differ materially from those indicated by such
forward-looking statements are risks relating to, among other
things, whether or not Oragenics will be able to raise capital, the
final terms of the underwritten offering of common stock, market
and other conditions, the satisfaction of customary closing
conditions related to the underwritten offering of common stock,
Oragenics’ business and financial condition, and the impact of
general economic, industry or political conditions in the United
States or internationally. For additional disclosure regarding
these and other risks faced by Oragenics, see disclosures contained
in Oragenics’ public filings with the SEC, including the “Risk
Factors” in the Company’s Annual Report on Form 10-K, as updated by
our Form 8-K Report filed with the SEC on May 8, 2020, Quarterly
Reports on Form 10-Q, and prospectus for this offering. You should
consider these factors in evaluating the forward-looking statements
included in this press release and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and Oragenics undertakes no obligation to update such
statements as a result of new information, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20201120005246/en/
Oragenics Company Contact: Michael Sullivan, 813-286-7900
Chief Financial Officer msullivan@oragenics.com
Investor Relations: John Marco Managing Director CORE IR
516-222-2560 johnm@coreir.com
Media: Jules Abraham CORE IR 917-885-7378
julesa@coreir.com
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