Date: 2015-09-10
Type of information: Private placement
Company: Medicinova (USA - CA)
Investors:
Amount: $17.5 million
Funding type: private placement
Planned used: MediciNova intends to use the net proceeds received from this offering to fund continued research and development efforts, including with respect to its MN-166 (ibudilast) and MN-001 (tipelukast) product candidates, and for general corporate purposes, including working capital.
Others: * On August 24, 2015, MediciNova announced closing of the previously announced underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $3.50 per share. The gross proceeds to MediciNova from this offering were $17.5 million, before deducting the underwriting discount and other estimated offering expenses. All of the shares in the offering were sold by MediciNova. In addition, MediciNova has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock. Ladenburg Thalmann acted as sole book-running manager of the offering, and Mizuho Securities and SMBC Nikko acted as co-managers of the offering. * On August 18, 2015, MediciNova announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $3.50 per share. The gross proceeds to MediciNova from this offering are expected to be $17.5 million, before deducting the underwriting discount and other estimated offering expenses. All of the shares of common stock to be sold in the offering are being offered by MediciNova. In addition, MediciNova has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock. The offering is expected to close on or about August 24, 2015, subject to customary closing conditions. The offering is made pursuant to a shelf registration statement on Form S-3 that was filed by MediciNova with the Securities and Exchange Commission (SEC) and was declared effective on December 3, 2012. The offering is being made only by means of a prospectus supplement and an accompanying prospectus.
Therapeutic area: Rare diseases - Liver diseases - Hepatic diseases
