Lexicon Pharmaceuticals completes public offering of common stock shares

Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced the completion of its previously-announced public offering of shares of its common stock. The offering included an aggregate of 38,333,332 shares of Lexicon's common stock 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.

Of this total, 22,878,187 shares were offered through the underwriters and 15,455,145 shares are being purchased by Invus, including 2,015,888 shares being purchased by Invus pursuant to its right to purchase additional shares. Lexicon expects to receive proceeds from Invus' exercise of its right to purchase additional shares on October 15, 2009. The net proceeds to Lexicon from the offering are approximately $55.2 million, after deducting the underwriting discount and estimated offering expenses and giving effect to the anticipated receipt of proceeds from Invus' exercise of its right to purchase additional shares.

The shares were offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. Morgan Stanley acted as the sole book-runner for the offering, with Thomas Weisel Partners LLC acting as co-manager.

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
Accelerating tobacco decline could boost global life expectancy