Oncobiologics Announces Separation of Units; Trading of Common Stock and Warrants
11 June 2016 - 6:30AM
Oncobiologics, Inc. (NASDAQ:ONSIU), a clinical-stage
biopharmaceutical company focused on identifying, developing,
manufacturing and commercializing complex monoclonal antibody
biosimilar therapeutics, today announced that the 5,833,334 units
issued in its underwritten initial public offering will separate in
accordance with their terms. Each unit consists of one share of
common stock, one-half of a Series A warrant and one-half of a
Series B warrant. Each whole Series A warrant entitles the holder
to purchase one share of Oncobiologics’ common stock at an initial
exercise price of $6.60, subject to adjustment. Each whole Series B
warrant entitles the holder to purchase one share of Oncobiologics’
common stock at an initial exercise price of $8.50, subject to
adjustment.
At the commencement of trading on June 13, 2016,
the common stock, Series A warrants and the Series B warrants will
trade separately on the NASDAQ Global Market under the symbols
“ONS,” “ONSIW” and “ONSIZ,” respectively. The units, which are
trading under the symbol “ONSIU,” will no longer be listed on
NASDAQ following the separation.
This press release shall not constitute an offer to sell or a
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 Oncobiologics, Inc. and its
BioSymphony™ PlatformOncobiologics is a clinical-stage
biopharmaceutical company focused on identifying, developing,
manufacturing and commercializing complex biosimilar therapeutics.
Its current focus is on technically challenging and commercially
attractive monoclonal antibodies (mAbs) in the disease areas of
immunology and oncology. Oncobiologics is advancing its pipeline of
eight biosimilar products, two of which are currently in clinical
development. Led by a team of biopharmaceutical experts,
Oncobiologics operates from an in-house state-of-the-art fully
integrated research and development, and manufacturing facility in
Cranbury, New Jersey. Oncobiologics employs its BioSymphony™
Platform to address the challenges of biosimilar development and
commercialization by developing high quality mAb biosimilars in an
efficient and cost-effective manner on an accelerated timeline.
CONTACTS:
Oncobiologics:
Lawrence A. Kenyon
Chief Financial Officer
LawrenceKenyon@oncobiologics.com
Media:
Alex Fudukidis
Russo Partners, LLC
alex.fudukidis@russopartnersllc.com
Investors:
Robert Flamm, Ph.D.
Russo Partners, LLC
robert.flamm@russopartnersllc.com
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