Oragenics Announces Pricing of $12 Million Underwritten Public Offering

Florida-based biopharmaceutical company Oragenics (NYSE:OGEN) announced the pricing of an underwritten public offering of units for gross proceeds of $12 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company.

As quoted in the press release:

The offering is comprised of 2,636,000 Class A Units, priced at a public offering price of $1.00 per unit, with each unit consisting of one share of common stock and a seven-year warrant to purchase one share of common stock at an exercise price of $1.00 per share, and 9,364,000 Class B Units, priced at a public offering price of $1.00 per unit, with each unit consisting of one share of Series D Preferred stock, having a conversion price of $1.00, and a seven-year warrant to purchase one share of common stock with an exercise price of $1.00 per share. The preferred stock issued in this transaction includes a beneficial ownership blocker but has no dividend rights (except to the extent that dividends are also paid on the common stock), liquidation preference or other preferences over common stock, and has no voting rights. The securities comprising the units are immediately separable and will be issued separately. The closing of the offering is expected to take place on or about July 17, 2018, subject to the satisfaction or waiver of customary closing conditions.

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