Hot Movers: Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY), Metlife Inc (NYSE:MET)

Lakeway, NY -- (SBWIRE) -- 02/20/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) today announced the pricing of an underwritten public offering of 8.0 million common shares, at a public offering price of US$4.00 per common share estimating the gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Oncolytics, will be US$32.0 million, which is expected to close on or about February 25, 2013, subject to customary closing conditions.

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The Company has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 1.2 million common shares to cover over-allotments, if any.

The proceeds will be used to fund its clinical trial program, manufacturing program and for general corporate and working capital purposes.

Piper Jaffray & Co. and Wedbush PacGrow Life Sciences are acting as joint book-running managers for the offering in the U.S. and Paradigm Capital Inc. is acting as co-manager in the U.S. and book-running manager in Canada.

Metlife Inc (NYSE:MET) appoints investment bankers from Citi to run an auction of its UK Assurance division.

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In recent weeks the sale process had been launched and a large number of prospective buyers were being sounded out about their interest in the business.

Having a market value of just over $40bn (£26.1bn), MetLife is understood to have identified the operation as a disposal candidate having spent the last five years building it into a major player in the UK market, which offers bulk annuity and pension risk management solutions for pension schemes.

According to some analyst MetLife would stake at "significantly below" a £1bn figure for the sale of its UK Assurance business.

Last year, MetLife sold its banking deposits arm to General Electric, allowing it to shed its regulatory status as a bank holding company, which followed a decision by the Federal Reserve to prevent it returning capital to shareholders.

“MetLife continually evaluates its businesses to ensure that we are best positioned to achieve our objectives, deliver superior customer service, support long-term business growth and operate effectively and efficiently. We do not comment on market rumors or speculation."

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