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ONI BioPharma (ONI) Announces Proposed Rights Offering to Shareholders


12/5/2008 11:37:44 AM

ALACHUA, FL--(Marketwire - December 05, 2008) - Oragenics, Inc. d/b/a ONI BioPharma Inc. (NYSE Alternext: ONI) (AMEX: ONI) * announced today that it intends to distribute, at no charge, to the holders of its Common Stock transferable subscription rights entitling the holders to collectively subscribe for up to an aggregate of 19,159,239 investment units. ONI intends to file a registration statement with the SEC for the offering, and the record date for the rights distribution will be fixed at or about the time the registration statement is declared effective. ONI expects to issue to its shareholders one-half of a subscription right for each share of Common Stock held by them on the record date. One full subscription right will entitle the holder to purchase one investment unit at an exercise price to be determined at the time the registration statement is declared effective. Subscribers who exercise their subscription rights in full will also be able to subscribe for additional units not subscribed for by the holders.

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