Oragenics Inc., a biotech company focused on combating infectious diseases, including those caused by coronaviruses, is thrilled to announce that two healthcare-focused investors have entered into definitive agreements with the company in a private placement. This transaction involves the issuance of 404,728 shares of common stock and 404,728 shares of Series E Mirroring Preferred Stock to the investors, demonstrating a great vote of confidence from the healthcare investors in the company’s mission and long-term potential.
At its upcoming annual meeting of shareholders, the Company plans to put forward a proposal to amend its Amended and Restated Articles of Incorporation, significantly increasing the number of authorized Common Stock from 4,166,666 to 350,000,000 shares. Each share of Series E Preferred Stock will wield immense voting power in the proposed amendment, equalling a staggering 2,500 votes per share.
The offering closed on August 4, 2023, bringing in a total of $840,000 in gross proceeds. The Company is looking forward to putting these funds to good use, allocating them to a variety of corporate initiatives and endeavors.
The Common Stock and Series E Preferred Stock recently offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and Regulation D have not been registered with the Act or applicable state securities laws, so they can’t be sold in the United States unless it’s done so through an effective registration statement or an applicable exemption.
About Oragenics, Inc.
Oragenics is leading the fight against infectious diseases, including coronaviruses and multidrug-resistant organisms. Their lead product, NT-CoV2-1, is an innovative intranasal vaccine candidate to protect individuals from the SARS-CoV-2 virus and its variants. Drawing on the NIH and NRC’s spike protein research, Oragenics’ NT-CoV2-1 program seeks to reduce transmission rates while providing a more convenient intranasal option for patients.
Additionally, the company’s lantibiotics program offers a novel class of antibiotics to tackle bacteria that have become resistant to traditional antibiotics. With these technologies, Oragenics is helping people the world over stay safe from deadly diseases.
Forward-Looking Statements
Sentiments in the investment world are constantly changing, and at Revive Therapeutics Ltd. we want our investors to understand the risks and uncertainties associated with our forward-looking statements. These statements include our plans to increase our authorization of common stock, development of our vaccine and lantibiotics candidates, as well as the regulatory application process, clinical data and analysis, and potential competition for our candidates.
However, these goals may not be achievable due to a variety of external factors, such as the global COVID-19 pandemic, potential impacts to healthcare systems, availability of funding, and general market conditions. We urge investors to use caution in relying on such statements and to factor in all potential risks and uncertainties should they choose to invest with us.