ONI BioPharma Inc. Announces Definitive Term Sheet for $2,600,000 in Equity Financing
June 02 2008 - 8:00AM
Marketwired
ALACHUA, FL (AMEX: ONI) today reported that it has entered into
a definitive financing agreement providing for equity financing of
$2,600,000 consisting of common stock at $0.45 per share and
warrants with an exercise price of $1.30 per share. Funding is
expected to finalize by June 12, 2008.
Stanley B. Stein, the Company's President and CEO, stated, "This
capital will help the Company to begin generating revenue from our
Probiora3 oral health product, to accelerate our efforts to develop
and commercialize our proprietary DPOLT antibiotic platform, to
test our SMaRT Replacement Therapy product for the elimination of
tooth decay, to market our LPT3-04 weight loss product, and
continue the development of our unique diagnostic platforms, IVIAT
and CMAT, as well as other uses."
The securities described herein have not been registered under
the Securities Act in reliance on exemption from registration and,
as a result, the securities cannot be resold except pursuant to
registration under the Securities Act or an exemption.
About ONI BioPharma Inc.
ONI BioPharma Inc. is a biopharmaceutical company with a
pipeline of unique proprietary technologies. The Company has a
number of products in discovery, preclinical and clinical
development, with a concentration in the main therapeutic area of
infectious diseases. Our core pipeline includes products and
supporting platform technologies for use in the treatment and
diagnosis of human infections.
Safe Harbor Statement: Under the Private Securities Litigation
Reform Act of 1995: This release includes forward-looking
statements that reflect ONI BioPharma Inc current views with
respect to future events and financial performance. These
forward-looking statements are based on management's beliefs and
assumptions and information currently available. The words
"believe," "expect," "anticipate," "intend," "estimate," "project"
and similar expressions that do not relate solely to historical
matters identify forward-looking statements. Investors should be
cautious in relying on forward-looking statements because they are
subject to a variety of risks, uncertainties, and other factors
that could cause actual results to differ materially from those
expressed in any such forward-looking statements. These factors
include, but are not limited to our ability to successfully close
the equity financing transaction and those set forth in our most
recently filed annual report on Form 10-K and quarterly report on
Form 10-Q, and other factors detailed from time to time in filings
with the Securities and Exchange Commission. We expressly disclaim
any responsibility to update forward-looking statements.
Contact: Oragenics Inc. Stanley B. Stein 386-418-4018 X222
www.oragenics.com
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