Oragenics, Inc. Completes Public Offering
Oragenics, Inc. (NYSE American: OGEN), an innovative biotechnology company focused on creating intranasal pharmaceuticals for neurological conditions, has successfully completed its public offering. This offering included 3,078,378 shares of common stock, along with pre-funded warrants that allow for the purchase of an additional 5,028,206 shares. Each share was priced at $0.55, while the pre-funded warrants were priced at $0.549.
As a result of this successful offering, Oragenics now has a total of 8,659,071 shares of common stock outstanding, in addition to pre-funded warrants for 5,028,206 shares. Notably, the exercise price for these pre-funded warrants is set at just $0.001, presenting an appealing opportunity for investors.
Significant Financial Outcomes
The gross proceeds from this public offering amounted to approximately $4.45 million. This funding will play a crucial role for Oragenics as it advances its research and development initiatives. After accounting for placement agent fees and estimated expenses related to the offering, these funds will support the development of the company's ONP-002 product candidate, as well as address general working capital requirements.
Placement and Legal Representation
Dawson James Securities, Inc. served as the sole placement agent for this offering. The company was effectively represented by Shumaker, Loop & Kendrick, LLP during the offering process, while ArentFox Schiff LLP, based in Washington, DC, represented the placement agent.
Regulatory Framework
This transaction was carried out under a registration statement on Form S-1 (File No. 333-281618), which included a base prospectus filed with the U.S. Securities and Exchange Commission (SEC). This statement was initially filed on August 16, 2024, and was declared effective shortly before the offering closed on September 3, 2024.
About Oragenics, Inc.
Oragenics is currently progressing through various stages of biotechnology development, with a focus on nasal delivery systems designed to address neurological disorders and combat infectious diseases. Their efforts specifically target mild traumatic brain injury, commonly known as concussion, as well as Niemann Pick Disease Type C. Additionally, they are working on proprietary powder formulations and cutting-edge intranasal delivery devices.
Contact Information
For further inquiries, please contact: Janet Huffman, Chief Financial Officer
Phone: 813-286-7900
Email: jhuffman@oragenics.com
Investor Relations:
Rich Cockrell
Phone: 404.736.3838
Email: achv@cg.capital
Frequently Asked Questions
What is the purpose of Oragenics' recent public offering?
The recent offering aims to secure funding for the continued development of ONP-002 and to cover general corporate expenses and working capital.
Who served as the placement agent for Oragenics' offering?
Dawson James Securities, Inc. acted as the sole placement agent for the offering.
What is ONP-002?
ONP-002 is a product candidate developed by Oragenics aimed at treating neurological disorders through intranasal delivery.
What types of diseases is Oragenics focusing on?
Oragenics is primarily focused on treating neurological disorders, including mild traumatic brain injury and Niemann Pick Disease Type C.
Where can I find more information about Oragenics?
More information about Oragenics and its products can be found on their website at www.oragenics.com.
