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Oncobiologics Closes On Final Portion Of $15 Million Senior Secured Note And Warrant Offering

CRANBURY, N.J., June 01, 2017 (GLOBE NEWSWIRE) — Oncobiologics, Inc. (NASDAQ:ONS), a clinical-stage biopharmaceutical company focused on identifying, developing, manufacturing and commercializing complex monoclonal antibody (mAb) biosimilar therapeutics, today announced that it has completed the sale of notes and warrants under its amended Note and Warrant Purchase Agreement dated December 22, 2016, as amended April 13, 2017 (the “NWPA”) and issued additional senior secured promissory notes that bear interest at a rate of 5.0% per year and mature on the one-year anniversary of the NWPA as amended (the “Notes”) and 5-year warrants to purchase shares of its common stock at an exercise price of $3.00 per share (the “Warrants”) in connection therewith.
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