Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) today announced the pricing of its previously announced underwritten public offering of $50,000,000 of shares of its common stock pursuant to an effective shelf registration statement.
The offering will consist of 49,751,244 shares of common stock at a public offering price of $1.005 per share. Lexicon has also granted the underwriters a 30-day option to purchase up to 7,462,687 additional shares of common stock.
All of the shares in the offering will be sold by Lexicon. J.P. Morgan Securities, LLC and Goldman, Sachs & Co. are acting as joint book-runners for the offering and Needham & Company, LLC and Stifel, Nicolaus & Company, Incorporated are acting as co-managers for the offering. Lexicon expects to close the offering on November 26, 2014, subject to the satisfaction of customary closing conditions.
Lexicon Pharmaceuticals, Inc.