By Sheri Kasprzak
New York, Nov. 3 - Avanir Pharmaceuticals, Inc. is gearing up to close a $15,005,250 direct placement.
The offering includes 5,265,000 class A shares with institutional investors at $2.85 each.
The shares are being sold under the company's shelf registration.
The investors will receive warrants for 1,053,000 shares, exercisable at $3.30 each for six months.
Rodman & Renshaw, LLC is the placement agent for the deal, which is scheduled to close Nov. 6.
Based in San Diego, Avanir develops therapeutic treatments for central nervous system disorders.
| Issuer: | Avanir Pharmaceuticals, Inc.
|
| Issue: | Class A common stock
|
| Amount: | $15,005,250
|
| Shares: | 5,265,000
|
| Price: | $2.85
|
| Warrants: | For 1,053,000 shares
|
| Warrant expiration: | Six months
|
| Warrant strike price: | $3.30
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Announcement date: | Nov. 3
|
| Settlement date: | Nov. 6
|
| Stock symbol: | Nasdaq: AVNR
|
| Stock price: | $3.10 at close Nov. 3
|
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