Date: 2014-04-17
Type of information: Private placement
Company: Oncobiologics (USA - NJ)
Investors:
Amount: $ 10 million
Funding type: private placement
Planned used:
Oncobiologics will use the proceeds from the sale of the additional notes and warrants for working capital purposes and to support ongoing development work as it pursues strategic opportunities.
Others:
- • On April 17, 2017, Oncobiologics, a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex monoclonal antibody biosimilar therapeutics, announced that it has amended its Note and Warrant Purchase Agreement dated December 22, 2016 and issued additional senior secured promissory notes that bear interest at a rate of 5.0% per year and mature on the one-year anniversary of the NWPA and 5-year warrants to purchase shares of its common stock at an exercise price of $3.00 per share in connection therewith.
Under the amended NWPA, on April 13, 2017 Oncobiologics issued an additional $3.5 million aggregate principal amount of Notes and an additional 1,165,500 Warrants. Oncobiologics may issue up to $1.5 million of additional Notes and 499,500 Warrants in additional closings over 180 days from the original date of NWPA without approval of holders of the Notes.
- • On January 10, 2017, Oncobiologics announced that it closed the sale of the remaining $1.65 million senior secured notes and warrants to purchase 379,500 shares of its common stock under its previously announced note and warrant purchase agreement with existing investors, bringing the total amount issued to an aggregate of $10.0 million senior secured notes and warrants to purchase an aggregate of 2.3 million shares. With this transaction, Oncobiologics has now issued the remaining $1.65 million principal amount of notes and 379,500 warrants as contemplated by the agreement.
- • On December 23, 2016, Oncobiologics announced that it entered into a Note and Warrant Purchase Agreement with existing investors. The agreement provides for the issuance and sale of up to $10.0 million of senior secured promissory notes, which bear interest at a rate of 5.0% per year and have a one-year maturity, and 5-year warrants to acquire an aggregate 2.3 million shares of the Company’s common stock at an exercise price of $3.00 per share. At the initial closing, the Company issued $8.35 aggregate principal amount of Notes and 1,920,500 Warrants. Under the agreement, Oncobiologics may issue up to $1.65 million of additional notes and 379,500 Warrants in additional closings over 90 days from the date of the Note and Warrant Purchase Agreement without approval of holders of the Notes.
Therapeutic area:
Is general: Yes
