ALACHUA, FL--(MARKET WIRE)--Aug 8, 2007 -- Oragenics, Inc. (AMEX:ONI - News), a biotechnology development company, announced today that it has completed an equity based financing with a group of accredited investors that includes existing shareholders. The $1.17 million financing provides for the issuance of 4,600,000 shares of common stock at a price of $0.25 per share, with the exception of those shares purchased by Dr. Ronald P. Evens, Oragenics' newly appointed director. Dr. Evens participated in this financing round at a price per share of $0.44, which was the Amex closing share price on July 23, 2007, the date in which Oragenics entered into a definitive agreement for the transaction with the participating investors. The Company also issued an equal number of warrants to the investors to purchase shares of common stock that will be exercisable for a period of one year at a strike price of $0.58 per share. Oragenics plans to use the funds raised to support the clinical development of the Company's various technologies and for general corporate purposes.
