Oncolytics Biotech Inc. (ONCY) said it has closed its previously announced underwritten public offering of 8.0 million common shares, at a public offering price of US$4.00 per common share.
The company said the aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses payable by Oncolytics, were about US$32.0 million.
The company also stated that it has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 1.2 million common shares to cover over-allotments, if any.
Oncolytics said it intends to use the net proceeds from the offering to fund its clinical trial program, manufacturing program and for general corporate and working capital purposes.
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