The Oncology Institute Announces $16.5 million Private Placement

Core Viewpoint - The Oncology Institute, Inc. (TOI) has announced a private placement expected to generate approximately $16.5 million in gross proceeds, aimed at supporting organic growth and working capital needs [1][5]. Group 1: Private Placement Details - The private placement involves accredited investors and includes participation from existing investors and members of the management team and Board of Directors [1]. - Each unit in the private placement consists of two shares of common stock (or pre-funded warrants) and common warrants to purchase one share of common stock at a price of$2.2084 per unit [2]. - The pre-funded warrants will have an exercise price of $0.0001 per share, while the common warrants will have an exercise price of$1.1980 per share [2]. Group 2: Exchange Agreement - Deerfield Management Company has agreed to exchange approximately $4.1 million of the Company's senior secured convertible notes for 37,232.83 shares of common-equivalent preferred stock and warrants to purchase 1,861,642 shares of common stock at the same prices as the private placement [4]. Group 3: Use of Proceeds - The proceeds from the private placement will be utilized to support organic growth and working capital needs [5]. Group 4: Company Overview - Founded in 2007, TOI is one of the largest value-based community oncology groups in the U.S., providing specialized cancer care to over 1.8 million patients [8]. - The organization employs over 120 clinicians and has more than 700 team members across over 70 clinic locations [8].