Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced the completion of its previously-announced public offering and concurrent private placement of its common stock, resulting in net proceeds to Lexicon of approximately $181.4 million after the exercise in full by the underwriters of their over-allotment option and by Invus, L.P., Lexicon's largest stockholder, of its associated right to purchase additional shares. The public offering and concurrent private placement included an aggregate of 161,770,206 shares of Lexicon's common stock. Of this total, 96,521,739 shares were offered through the underwriters and 65,248,467 shares were purchased by Invus and one of its affiliates in the concurrent private placement.
The shares subject to the public offering were offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. Morgan Stanley & Co. Incorporated and J.P. Morgan Securities Inc. acted as joint book-runners for the public offering, with Cowen and Company, LLC and Thomas Weisel Partners LLC acting as co-managers.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is not permitted. The offering of the securities in the public offering was made only by means of a final prospectus supplement and accompanying prospectus, copies of which may be obtained from Morgan Stanley & Co. Incorporated, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone: (866) 718-1649, or by emailing prospectus@morganstanley.com, or from J.P. Morgan Securities Inc., Attention: Broadridge Financial Solutions at 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204.