By Sheri Kasprzak
Atlanta, April 6 - Avanir Pharmaceuticals Inc. said it will raise $16,083,900 in a direct placement of stock.
The company plans to sell 7.77 million class A shares at $2.07 each.
The shares are being offered through Avanir's shelf registration.
CIBC World Markets Corp. is bookrunning placement agent with Leerink Swann & Co. in the syndicate.
The offering is expected to close April 8.
Based in San Diego, Avanir is a pharmaceutical company focused on treatments of chronic illnesses.
| Issuer: | Avanir Pharmaceuticals Inc.
|
| Issue: | Stock
|
| Amount: | $16,083,900
|
| Shares: | 7.77 million
|
| Price: | $2.07
|
| Warrants: | No
|
| Placement agents: | CIBC World Markets Corp. (books) and Leerink Swann & Co.
|
| Pricing date: | April 5
|
| Settlement date: | April 8
|
| Stock price: | $2.47 at close April 5
|
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