other_material
confidence high
sentiment neutral
materiality 0.75
Oragenics closes $16.5M public offering of Series H Preferred Stock and Warrants
ORAGENICS INC
- Issued 660,000 shares of Series H Convertible Preferred Stock at $25/unit with warrants to buy 660,000 additional shares.
- Preferred Stock converts to common at $2.50 per share; warrants exercise at $25/share for 5 years.
- Gross proceeds ~$16.5M; net ~$15M after fees; potential additional $16.5M if all warrants exercised.
- Net proceeds to fund ONP-002 concussion trials, repay $3M bridge note, and general corporate purposes.
- Preferred Stock carries 9% cumulative dividend payable in common stock; no voting rights except as law requires.