Aug 11 2009
Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY) announced today that it closed its previously announced sale of approximately 2.28 million shares of its common stock and warrants to purchase approximately 684,000 shares of its common stock for gross proceeds of approximately $15.0 million on August 7, 2009.
Oncothyreon sold the shares and warrants for $6.5775 per unit (each unit consisting of one share and a warrant to purchase 0.30 shares of common stock). The exercise price of the warrants is $6.5775 per share. The warrants are exercisable at any time on or after the closing and on or prior to the second anniversary of the closing of the transaction on August 7, 2009. Oncothyreon plans to use the proceeds from this financing for general corporate purposes. Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for Oncothyreon. Boenning Scattergood Inc. acted as financial advisor to Oncothyreon for the offering.