Oragenics Announces Closing of $6.0 Million Underwritten Public Offering
November 24 2020 - 11:37AM
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 closing of its previously announced underwritten
public offering of 14,189,189 shares of common stock at a price to
the public of $0.37 per share.
Oragenics expects to receive gross proceeds of approximately
$6.0 million from the offering.
A.G.P./Alliance Global Partners is acting as sole book-running
manager for the offering.
The Company granted the underwriter a 45-day option to purchase
up to 2,128,378 additional shares of common stock at the public
offering price, less underwriting discounts and commissions. The
underwriter exercised its option in full to purchase 2,128,378
additional shares of common stock, which the indicated gross
proceeds reflect.
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
prospectus supplement and accompanying prospectus describing the
terms of the proposed offering was filed with the SEC and is
available on the SEC’s website at www.sec.gov. Electronic copies of the prospectus
supplement may be obtained 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.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company’s securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other 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/20201124005815/en/
Oragenics, Inc. Corporate: Michael Sullivan, 813-286-7900
Chief Financial Officer msullivan@oragenics.com or
Investors: John Marco Managing Director CORE IR 516-222-2560
johnm@coreir.com or Media: Jules Abraham CORE IR
917-885-7378 julesa@coreir.com
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