By Laura Lutz
Des Moines, Oct. 11 - CombinatoRx, Inc. arranged a $35 million direct offering of stock with institutional investors.
The company plans to sell 5,600,000 common shares at $6.25 each, a 6.5% discount to the stock's closing price on Oct. 10.
After the offering, CombinatoRx will have 34,672,994 shares outstanding.
Lazard Capital Markets LLC is the placement agent.
CombinatoRx is a pharmaceutical company based in Cambridge, Mass. It will use the proceeds to develop of its clinical- and preclinical-stage product candidates, to develop additional product candidates and to fund working capital, capital expenditures and other general corporate purposes.
| Issuer: | CombinatoRx, Inc.
|
| Issue: | Stock
|
| Amount: | $35 million
|
| Shares: | 5,600,000
|
| Price: | $6.25
|
| Warrants: | No
|
| Agent: | Lazard Capital Markets LLC
|
| Pricing date: | Oct. 10
|
| Settlement date: | Oct. 16
|
| Stock symbol: | Nasdaq: CRXX
|
| Stock price: | $6.69 at close Oct. 10
|
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