Oragenics Announces Closing of Public Offering
March 01 2024 - 4:04PM
Business Wire
Oragenics, Inc. (NYSE American: OGEN) (“Oragenics” or the
“Company”), a company focused on developing unique, intranasal
nanoparticle pharmaceuticals for the treatment of neurological
disorders, today announced the closing of its previously announced
underwritten public offering of 1,400,000 shares of its common
stock at a public offering price of $1.50 per share, for gross
proceeds of $2.1 million, before deducting underwriting discounts,
and offering expenses payable by the Company. In addition, the
Company has granted the underwriters a 45-day option to purchase up
to an additional 210,000 shares of its common stock at the public
offering price, less discounts, to cover over-allotments, if
any.
The Company intends to use the net proceeds from the offering to
fund the continued development of ONP-002, which is a unique
neurosteroid drug compound intended to treat mild traumatic brain
injuries also known as concussions, and for general corporate
purposes and working capital.
ThinkEquity and Laidlaw & Company (UK) Ltd. acted as joint
book-running managers for the offering.
The offering is being made pursuant to an effective shelf
registration statement that has been filed with the U.S. Securities
and Exchange Commission (the “SEC”). The final prospectus
supplement relating to the offering was filed with the SEC and is
available on the SEC's website at http://www.sec.gov. Copies of the
final prospectus supplement and the accompanying prospectus
relating to the offering may be obtained from ThinkEquity, 17 State
Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, 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.
About Oragenics
Oragenics is a development-stage biotechnology company focused
on nasal delivery of pharmaceutical medications in neurology and
fighting infectious diseases, including drug candidates for
treating mild traumatic brain injury (mTBI), also known as
concussion, and for treating Niemann Pick Disease Type C (NPC), as
well as proprietary powder formulation and an intranasal delivery
device. For more information, please visit www.oragenics.com.
Forward Looking Statements
This press release contains “forward-looking statements” as
defined by the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties. In some cases, you can
identify forward-looking statements by terms such as “may,”
“might,” “will,” “objective,” “intend,” “should,” “could,” “can,”
“would,” “expect,” “believe,” “design,” “estimate,” “predict,”
“potential,” “plan” or the negative of these terms and similar
expressions intended to identify forward-looking statements. These
statements include statements related to the intended use of
proceeds. The Company cautions readers that forward-looking
statements are based on management’s expectations and assumptions
as of the date of this news release and are subject to certain
risks and uncertainties that could cause actual results to differ
materially, including, but not limited to, risks related to
prevailing market conditions, the impact of general economic,
industry or political conditions in the United States, and the
Company’s ability to satisfy customary closing conditions
associated with the offering. Forward-looking statements reflect
its analysis only on their stated date, and the Company undertakes
no obligation to update or revise these statements except as may be
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240229906466/en/
Oragenics, Inc. Janet Huffman, Chief Financial Officer
813-286-7900 jhuffman@oragenics.com
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