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Oragenics, Inc. (ONI) Announces $5,000,000 in New Financing, and Changes in Its Board of Directors and Management
6/30/2009
ALACHUA, Fla.--(BUSINESS WIRE)--The Florida based biotechnology firm Oragenics, Inc., (OTCBB:ORNI) (NYSE Alternext Paris:ALONI) announces that it has closed an investment contract with the Koski Family Limited Partnership to provide new capital for continuing operations. Pursuant to this contract, the Koski Family Limited Partnership agreed to invest $4,000,000 (four million dollars) in equity in exchange for 50,000,000 common shares, and warrants to purchase 1,000,000 additional shares for $.10 each. The equity investment consists of $1,500,000 in cash at closing and $2,500,000 in the form of a non-interest bearing promissory note, to be paid in five equal monthly installments of $500,000 commencing July 31, 2009. In addition, the Koski Family Limited Partnership has provided Oragenics, Inc., with a loan in the amount of $1,000,000 (one million dollars) secured by certain assets owned by Oragenics, Inc.
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