By Sheri Kasprzak
New York, Dec. 19 - Amarin Corp. plc said it has received definitive agreements for a $26,361,000 private placement of American Depositary Shares.
The company intends to place 26.1 million ADSs at $1.01 each to a group of institutional investors including Southpoint Capital Advisors LP, Biotechnology Value Fund LP, Fort Mason Capital LP, Domain Public Equity Partners LP and other investors.
The investors will also receive warrants for 9.1 million ADSs, exercisable at $1.43 each.
Proceeds will be used for phase 3 clinical trials on the company's product, Miraxion, to treat Huntington's disease.
London-based Amarin is a biopharmaceutical company focused on developing treatments for central nervous system disorders.
| Issuer: | Amarin Corp. plc
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| Issue: | American Depositary Shares
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| Amount: | $26,361,000
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| ADSs: | 26.1 million
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| Price: | $1.01
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| Warrants: | For 9.1 million ADSs
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| Warrant strike price: | $1.43
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| Investors: | Southpoint Capital Advisors LP, Biotechnology Value Fund LP, Fort Mason Capital LP, Domain Public Equity Partners LP
|
| Announcement date: | Dec. 19
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| Stock price: | $1.17 at close Dec. 16
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