pcNewsWire – Oncolytics Biotech Inc. (TSX: ONC; OTCQX: ONCYF) has closed previously announced underwritten public offering of 16,445,000 units at $0.70 per unit for gross proceeds of approximately $11.5 million.
Canaccord Genuity acted as sole bookrunner and sole lead for the offering. Paradigm Capital Inc. acted as a manager for the offering.
Proceeds will be used for, among other things, expanding partnering activities, execution of the clinical development program for metastatic breast cancer and general corporate purposes.
News Release
Oncolytics Biotech® Announces Closing of Public Offering of Units
/THIS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, June 1, 2017 /CNW/ – Oncolytics Biotech® Inc. (Oncolytics or the Company) (TSX:ONC) (OTCQX:ONCYF) today announced the closing of its previously announced underwritten public offering. Oncolytics sold 16,445,000 units (Units) (including Units issued pursuant to the exercise in full of the overallotment option granted by the Company to the underwriters) at a purchase price of $0.70 per Unit for gross proceeds of approximately $11.5 million (the Offering). The net proceeds of the Offering were approximately $10.6 million, after deducting the underwriting commissions and other estimated offering expenses payable by Oncolytics. Oncolytics expects to use the net proceeds from the Offering for, among other things, expanding partnering activities, execution of the clinical development program for metastatic breast cancer and general corporate purposes.
Canaccord Genuity acted as sole bookrunner and sole lead for the Offering. Paradigm Capital Inc. acted as a manager for the Offering.
A prospectus supplement and accompanying final base shelf prospectus describing the terms of the proposed offering has been filed on SEDAR. Copies of the prospectus supplement and accompanying final base shelf prospectus relating to the offering may be obtained from Canaccord Genuity, Attention: Syndication – Canaccord Genuity Corp., P.O. Box 516, 161 Bay Street, Suite 3000, Toronto, ON, M5J 2S1. Electronic copies of the prospectus supplement and accompanying final base shelf prospectus will also be available on SEDAR at www.sedar.com.
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act) or any applicable securities laws of any state of the United States and may not be offered or sold in the United States, or to, or for the account or benefit of, a U.S. person absent such registration or an applicable exemption to such registration requirements. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted, including, but not limited to, the United States.
About Oncolytics Biotech Inc.
Oncolytics is a biotechnology company developing REOLYSIN, an immuno-oncology viral-agent, as a potential treatment for a variety of tumor types. The compound induces selective tumor lysis and promotes an inflamed tumor phenotype through innate and adaptive immune responses to treat a variety of cancers.
Oncolytics’ clinical development program emphasizes three pillars: chemotherapy combinations to trigger selective tumor lysis; immuno-therapy combinations to produce adaptive immune responses; and immune modulator (IMiD) combinations to facilitate innate immune responses. Oncolytics is currently planning its first registration study in breast cancer, as well as studies in combination with checkpoint inhibitors and IMID/targeted therapies in solid and hematological malignancies. For further information about Oncolytics, please visit: www.oncolyticsbiotech.com.
For further information: Oncolytics Investor & Media Contact, Oncolytics Biotech Inc., Michael Moore, Vice President, Investor Relations & Corporate
Communications, 858-886-7813, mmoore@oncolytics.ca
SOURCE Oncolytics Biotech Inc.
