TAMPA, Fla.– Oragenics, Inc. (NYSE American: OGEN) (“Oragenics” or the “Company”), a company focused on the creation of the Terra CoV-2 vaccine candidate to combat the novel coronavirus pandemic, today announced the pricing of an underwritten public offering of 14,189,189 shares of its common stock at a price to the public of $0.37 per share. The gross proceeds to the Company from this offering are expected to be approximately $5,250,000, before deducting underwriting discounts and commissions and other estimated offering expenses. Oragenics has granted the underwriters a 45-day option to purchase up to an additional 2,128,378 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about November 24, 2020, subject to customary closing conditions.
A.G.P./Alliance Group Partners is acting as sole book-running manager for the offering.
The Company intends to use the net proceeds of the offering primarily to continue funding our pre-clinical development of our SARS-CoV-2 vaccine, Terra CoV-2 and our lantibiotics program and for general corporate purposes, including research and development activities, capital expenditures and working capital.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-235763) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) that was declared effective by the SEC on January 13, 2020. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering was filed with the SEC. Electronic copies of the preliminary prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at 212-624-2060 or email: prospectus@allianceg.com. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that Oragenics has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about Oragenics and such offering. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC. The preliminary prospectus supplement and accompanying prospectus is also available, and the final prospectus supplement and accompanying prospectus will be available, on the SEC’s website at http://www.sec.gov.
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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Oragenics, Inc.
Oragenics, Inc. is focused on the creation of the Terra CoV-2 vaccine candidate to combat the novel coronavirus pandemic and the further development of effective treatments for novel antibiotics against infectious disease. The Company is dedicated to the development and commercialization of a vaccine candidate providing specific immunity from novel coronavirus. The Terra CoV-2 immunization leverages coronavirus spike protein research conducted by the National Institute of Health. In addition, Oragenics has an exclusive worldwide channel collaboration with ILH Holdings, Inc. (n/k/a Eleszto Genetika, Inc.), relating to the development of novel lantibiotics.