Lexicon Pharma Prices Public Offering Of $50.0 Mln Of Stock - Quick Facts

(RTTNews) - Lexicon Pharmaceuticals, Inc. (LXRX) said it has priced its prior announced underwritten public offering of $50 million of shares pursuant to an effective shelf registration statement. The offering would include 49.75 million common shares at a price of $1.005 per share.

The underwriters were granted a 30-day option to buy up to 7.46 million additional common shares. All of the shares in the offering would be sold by Lexicon.

J.P. Morgan Securities, LLC and Goldman, Sachs & Co. are acting as joint book-runners for the offering and Needham & Company, LLC and Stifel, Nicolaus & Company, Incorporated are acting as co-managers for the offering. Lexicon expects to close the offering on November 26, 2014.

Separately, the company announced pricing of its offering of $80 million aggregate principal amount of 5.25% Convertible Senior Notes due 2021 in a private offering within the U.S. Also, Lexicon has granted the initial purchasers an option to buy up to an additional $15 million aggregate principal amount of the Convertible Notes on the same terms and conditions, solely to cover over-allotments.

Lexicon estimates that the offering's net proceeds would be nearly $77.0 million, after deducting the initial purchasers' discount and estimated offering expenses payable by Lexicon. It intends to close the offering on November 26, 2014.