By Devika Patel
Knoxville, Tenn., Sept. 15 - Neurocrine Biosciences, Inc. said it entered into a $75 million three-year committed equity financing facility with Kingsbridge Capital Ltd.
The funds that can be raised under the facility will depend on the then-current price for the company's stock; the number of shares actually sold may not exceed 2.75% of the company's market capitalization at the time of draw-down for a total maximum of approximately 8 million shares. The stock will be sold at discounts ranging from 5% to 10%.
Neurocrine is a San Diego-based product-based biopharmaceutical company focused on neurological and endocrine diseases and disorders.
| Issuer: | Neurocrine Biosciences, Inc.
|
| Issue: | Committed equity financing facility
|
| Amount: | $75 million
|
| Tenor: | Three years
|
| Price: | Discounted 5% to 10%
|
| Warrants: | No
|
| Investor: | Kingsbridge Capital Ltd.
|
| Pricing date: | Sept. 15
|
| Stock symbol: | Nasdaq: NBIX
|
| Stock price: | $3.13 at close Sept. 15
|
| Market capitalization: | $122 million
|
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