Additional Relevant Details The subscription pricing is now $4.10 per unit. The subscription period for the rights offering commenced on July 8, 2016, and the subscription rights will expire if they are not exercised by 5:00 PM Eastern Time, on July 26, 2016, unless extended by the company.
Under the rights offering, Onconova has distributed 1.5 non-transferable subscription rights to purchase units per share of common stock or warrants. Each right entitles the holder to purchase one unit at the adjusted subscription price of $4.10 per unit, composed of one share of common stock and 0.75 of a warrant, with each whole warrant exercisable to purchase one share of common stock at an adjusted exercise price of $4.92 per share for five years from the date of issuance. Onconova has applied to list the warrants on NASDAQ under the symbol "ONTXW," although there is no assurance that a sufficient number of subscription rights will be exercised so that the warrants will meet the minimum listing criteria to be accepted for listing. After the one-year anniversary of issuance, the Company may redeem the Warrants for $0.001 per Warrant if the volume weighted average price of our common stock is above $12.30 per share for 10 consecutive trading days. The subscription rights are non-transferrable and may only be exercised during the subscription period.