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AVI BioPharma, Inc. announced the closing of the public offering of 24,295,775 shares of common stock and warrants to purchase an additional 9,718,310 shares of common stock for gross proceeds of approximately $34.5 million. AVI BioPharma sold the shares and warrants for a price of $1.42 per unit. The shares of common stock and warrants are immediately separable and will be issued separately. The warrants have an exercise price of $1.78 per share of common stock, have a term of five years, and are exercisable starting with the date that is six months from the date of the closing of the offering.


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