Proceeds earmarked for working capital and corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 15 - Orexigen Therapeutics, Inc. priced a $90 million public offering of units in a prospectus supplement filed Thursday with the Securities and Exchange Commission. The offering was announced on Dec. 14.
The company will sell 5,646,173 units of one common share and ten warrants at $15.94 per unit, with each 10-year warrant exercisable at $0.001.
Leerink Swann is the bookrunner.
Proceeds will be used for working capital and other general corporate purposes.
The biopharmaceutical company is based in San Diego.
| Issuer: | Orexigen Therapeutics, Inc.
|
| Issue: | Units of one common share and ten warrants
|
| Amount: | $90 million
|
| Units: | 5,646,173
|
| Price: | $15.94
|
| Warrants: | Ten warrants per unit
|
| Warrant expiration: | 10 years
|
| Warrant strike price: | $0.001
|
| Bookrunner: | Leerink Swann
|
| Announcement date: | Dec. 14
|
| Pricing date: | Dec. 15
|
| Stock symbol: | Nasdaq: OREX
|
| Stock price: | $1.66 at close Dec. 14
|
| Market capitalization: | $71.16 million
|
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