Date: 2017-04-17
Type of information: Private placement
Company: Arena Pharmaceuticals (USA - CA)
Investors:
Amount: $79.4 million
Funding type: private placement
Planned used: Arena anticipates using the net proceeds from the offering for clinical and preclinical development of drug candidates, for general corporate purposes, including working capital and costs associated with manufacturing services, and for capital expenditures.
Others:
- • On April 21, 2017, Arena Pharmaceuticals announced the completion of its previously announced underwritten public offering of 69,000,000 shares of its common stock, including 9,000,000 shares sold pursuant to the full exercise of an option previously granted to the underwriters. All of the shares were sold at a price to the public of $1.15 per share. Including the option exercise, the aggregate gross proceeds from the offering were approximately $79.4 million , before deducting the underwriting discounts and commissions and offering expenses payable by Arena. All of the shares were offered by Arena. Arena anticipates using the net proceeds from the offering for clinical and preclinical development of drug candidates, for general corporate purposes, including working capital and costs associated with manufacturing services, and for capital expenditures.
Citigroup and Leerink Partners acted as joint book-running managers for the offering.
The shares of common stock described above were offered by Arena pursuant to a shelf registration statement filed by Arena with the Securities and Exchange Commission (SEC) that was declared effective on July 5, 2016 .
- • On April 17, 2017, Arena Pharmaceuticals announced the pricing of an underwritten public offering of 60,000,000 shares of its common stock, offered at a price to the public of $1.15 per share. The gross proceeds from the offering are expected to be $69.0 million , before deducting the underwriting discounts and commissions and offering expenses payable by Arena. Arena has granted the underwriters a 30?day option to purchase up to 9,000,000 additional shares of common stock. All of the shares are being offered by Arena. The offering is expected to close on April 21, 2017 , subject to customary closing conditions.
- • On April 17, 2017, Arena Pharmaceuticals, announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. Arena expects to grant the underwriters a 30?day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. All of the shares are being offered by Arena. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Therapeutic area:
Is general: Yes
