By Sheri Kasprzak
Atlanta, April 12 - Avanir Pharmaceuticals Inc. said it has completed an upsized direct placement of stock for $17,094,000.
The company sold 7.77 million class A common shares at $2.20 each, increased from $2.07 originally announced on April 5.
The shares were sold under Avanir's shelf registration.
On April 5, the offering was announced as a $16,083,900 deal comprised of the same number of shares.
CIBC World Markets Corp. was the bookrunner and Leerink Swann & Co. the co-placement agent.
Based in San Diego, Avanir is a pharmaceutical company focused on treatments of chronic illnesses.
| Issuer: | Avanir Pharmaceuticals Inc.
|
| Issue: | Stock
|
| Amount: | $17,094,000
|
| Shares: | 7.77 million
|
| Price: | $2.20
|
| Warrants: | No
|
| Placement agents: | CIBC World Markets Corp. and Leerink Swann & Co.
|
| Pricing date: | April 5
|
| Settlement date: | April 12
|
| Stock price: | $2.47 at close April 5
|
| Stock price: | $2.54 at close April 12
|
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