May 11, 2017 / 11:52 AM / 2 months ago

BRIEF-Oragenics announces $3 mln preferred stock private placement and $2.4 mln loan

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May 11 (Reuters) - Oragenics Inc

* Oragenics announces $3.0 million preferred stock private placement and $2.4 million loan

* Oragenics inc - to sell up to $3.0 million of series a convertible preferred stock at a price of $0.25 per share

* Oragenics inc - concurrently with preferred stock financing, company also entered into a note purchase agreement with intrexon corporation

* Oragenics inc - intrexon note matures in two years and has a simple interest rate of 12% per annum

* Oragenics inc - proceeds from intrexon note will be used to fund company's ag013 research and clinical trials

* Oragenics inc - proceeds from stock offering, loan to continue advancing biotherapeutic candidate ag013 toward clinic for treatment of oral mucositis

* Oragenics inc - issued $2.4 million unsecured non-convertible promissory note to intrexon & amended first milestone in its oral mucositis ecc agreement with intrexon Source text for Eikon: Further company coverage:

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