Oncolytics Biotech (NASDAQ: ONCY) sets up $75M ATM facility
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Oncolytics Biotech Inc. entered into an Open Market Sale Agreement with Jefferies LLC to sell shares of common stock with an aggregate offering price of up to $75.0 million through an at-the-market program.
Sales will be made from time to time under the company’s effective Form S-3 shelf registration, with Jefferies acting as agent or principal and earning a commission of up to 3.0% of gross proceeds. The company plans to use any net cash raised to fund clinical development of pelareorep, related research and development, operating costs, working capital and general corporate purposes.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
ATM program size: $75.0 million
Sales commission: up to 3.0% of gross proceeds
Shelf registration file number: File No. 333-294811
+3 more
6 metrics
ATM program size
$75.0 million
Aggregate offering price of common stock under Open Market Sale Agreement
Sales commission
up to 3.0% of gross proceeds
Commission payable to Jefferies LLC on each share sale
Shelf registration file number
File No. 333-294811
Form S-3 shelf registration covering the offered shares
Shelf effectiveness date
April 3, 2026
Date SEC declared Form S-3 effective
Prospectus supplement date
April 6, 2026
Date prospectus supplement was filed for the ATM offering
Termination notice period
ten trading days
Notice required for either party to terminate the Sales Agreement
Key Terms
Open Market Sale Agreement, at the market offering, shelf registration statement, Form S-3, +2 more
6 terms
Open Market Sale Agreement financial
"entered into an Open Market Sale Agreement (the “Sales Agreement”) with Jefferies LLC"
A contract that lets a shareholder or issuer authorize a broker to sell stock into the public market over time rather than to one specific buyer. Think of it like hiring a salesperson to quietly sell items from your garage in small batches so you don’t crash the price; for investors it matters because it increases supply and liquidity, can put downward pressure on the share price, and signals an upcoming flow of shares into the market.
at the market offering financial
"deemed to be an “at the market offering” under Rule 415(a)(4)"
An at-the-market offering is a way a company raises cash by selling newly issued shares directly into the open market at prevailing prices, rather than all at once in a single deal. Think of it like turning a faucet on to drip shares into trading at current prices when needed; it gives the company flexibility to raise funds over time but can dilute existing shareholders and potentially affect the stock price, which investors should monitor.
shelf registration statement regulatory
"The Shares will be offered pursuant to a shelf registration statement on Form S-3"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
Form S-3 regulatory
"shelf registration statement on Form S-3 (File No. 333-294811)"
Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.
prospectus supplement regulatory
"and a prospectus supplement filed with the Commission on April 6, 2026"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
indemnification and contribution rights financial
"provide the Agent with customary indemnification and contribution rights"
FAQ
What did Oncolytics Biotech (ONCY) announce in this Form 8-K?
Oncolytics Biotech entered an Open Market Sale Agreement with Jefferies LLC to sell up to $75.0 million of common stock. Shares may be sold from time to time through an at-the-market offering under an effective Form S-3 shelf registration statement.
How large is Oncolytics Biotech’s new at-the-market equity program?
The at-the-market equity program allows Oncolytics Biotech to sell common shares with an aggregate offering price of up to $75.0 million. This limit applies to shares sold from time to time through or to Jefferies LLC as sales agent or principal.
What commission will Jefferies receive under Oncolytics Biotech’s ATM agreement?
Jefferies LLC will receive a commission of up to 3.0% of the gross proceeds from each sale of Oncolytics Biotech’s common shares. The company will also reimburse certain expenses and provide customary indemnification and contribution rights under the agreement.
Can the Open Market Sale Agreement between Oncolytics Biotech and Jefferies be terminated?
Yes. The Open Market Sale Agreement may be terminated at any time by either Oncolytics Biotech or Jefferies LLC on ten trading days’ notice to the other party, providing flexibility for both sides to end the arrangement if circumstances change.