Oragenics Announces Closing of $12.5 Million Underwritten Public Offering

TAMPA, Fla.–(BUSINESS WIRE)–Oragenics, Inc. (NYSE American: OGEN), a leader in the development of
new antibiotics against infectious diseases and effective treatments for
oral mucositis, today announced the closing of its previously announced
underwritten public offering of 16,666,668 shares of common stock,
short-term warrants to purchase up to 8,333,334 shares of common stock,
and long-term warrants to purchase up to 8,333,334 shares of common
stock, at a price to the public of $0.75 per share and accompanying
warrants.

Oragenics expects to receive gross proceeds of approximately $12.5
million from the offering.

H.C. Wainwright & Co. is acting as sole book-running manager for the
offering.

Each short-term warrant has an exercise price of $0.75 per share of
common stock, is immediately exercisable, and will expire on the earlier
of (1) the eighteen-month anniversary of the date of issuance and (2)
twenty-one trading days following the Company’s release of top-line data
related to its Phase 2 double blind, placebo controlled clinical trial
of AG013. Each long-term warrant has an exercise price of $0.90 per
share of common stock, is immediately exercisable and will expire five
years following the date of issuance.

The Company has granted the underwriter a 30-day option to purchase up
to 2,500,000 additional shares of common stock and/or short-term
warrants to purchase 1,250,000 shares of common stock and long-term
warrants to purchase 1,250,000 shares of common stock of the Company at
the public offering price, less underwriting discounts and commissions.
The underwriter exercised its option to purchase the short-term warrants
to purchase 1,250,000 shares of common stock and long-term warrants to
purchase 1,250,000 shares of common stock effective as of the closing.

The Company intends to use the net proceeds of the offering to fund its
AG013 research, clinical trials, pre-clinical development of the
lantibiotics program, and for working capital and general corporate
purposes.

The securities described above were offered pursuant to a shelf
registration statement (File No. 333-213321), which was declared
effective by the United States Securities and Exchange Commission
(“SEC”) on September 7, 2016, and additional registration statement
filed pursuant to Rule 462(b) (File No. 333-230422). A final prospectus
supplement relating to the offering has been filed with the SEC and is
available on the SEC’s website at www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to the offering may be obtained from H.C. Wainwright
& Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, or by
calling (646) 975-6996 or by emailing [email protected]
or at the SEC’s website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the Company’s securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to the registration or qualification under the securities laws of
any such state or other jurisdiction.

About Oragenics, Inc.

We are focused on becoming a leader in novel antibiotics against
infectious disease and on developing effective treatments for oral
mucositis. Oragenics, Inc. has established two exclusive worldwide
channel collaborations with Intrexon Corporation and its subsidiaries.
The collaborations allow Oragenics to accelerate the development of much
needed new antibiotics that can work against resistant strains of
bacteria and the development of biotherapeutics for oral mucositis and
other diseases and conditions of the oral cavity, throat, and esophagus.

For more information about Oragenics, please visit www.oragenics.com.

Forward-Looking Statements

This press release contains “forward-looking statements” as defined in
the Private Securities Litigation Reform Act of 1995, as amended, that
involve significant risks and uncertainties about Oragenics, including
but not limited to statements with respect to the use of proceeds of the
underwritten offering of common stock and warrants. Oragenics may use
words such as “expect,” “anticipate,” “project,” “intend,” “plan,”
“aim,” “believe,” “seek,” “estimate,” “can,” “focus,” “will,” and “may”
and similar expressions to identify such forward-looking statements.
Among the important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are
risks relating to, among other things, market and other conditions, the
satisfaction of customary closing conditions related to the underwritten
offering of common stock, Oragenics’ business and financial condition,
and the impact of general economic, industry or political conditions in
the United States or internationally. For additional disclosure
regarding these and other risks faced by Oragenics, see disclosures
contained in Oragenics’ public filings with the SEC, including the “Risk
Factors” in the company’s Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q, and prospectus for this offering. You should consider
these factors in evaluating the forward-looking statements included in
this press release and not place undue reliance on such statements. The
forward-looking statements are made as of the date hereof, and Oragenics
undertakes no obligation to update such statements as a result of new
information, except as required by law.

Contacts

Oragenics, Inc.
Corporate:
Michael Sullivan,
813-286-7900
Chief Financial Officer
[email protected]
or
Investors:
John
Marco
Managing Director
CORE IR
310-819-2948
[email protected]

Media:
Jules Abraham
CORE
IR
917-885-7378
[email protected]