U.S. new antibiotics developer Oragenics Inc. has priced its underwritten public offering of 16.6 million shares of common stock at a price to the public of $0.75 per share.
The company expects to receive gross proceeds of around $12.5 million from the offering.
Oragenics plans to use the new capital to finance its AG013 research, clinical trials, pre-clinical development of the lantibiotics program, for working capital and general corporate purposes.
The offering, subject to customary closing conditions, is expected to be finalized on or about March 25, 2019.