SEATTLE, Aug. 10 /CNW/ - 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.
A registration statement relating to these securities (File No.
333-149837) has been declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor, shall there be any sale of these
securities in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. Any offer of these securities will be solely by
means of a prospectus included in the registration statement and any
prospectus supplement that may be issued with respect to such offering. Copies
of the final prospectus, including the prospectus supplement, can be obtained
at the Securities and Exchange Commission's website, www.sec.gov, from
Oncothyreon at its Seattle, Washington address below or Rodman & Renshaw LLC
by calling 212-356-0549.
About Oncothyreon
Oncothyreon is a biotechnology company specializing in the development of
innovative therapeutic products for the treatment of cancer.
