Alexza (ALXA) Selling 8.1M Shares At $2.4325 A Share
Up)
Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) announced today that it has entered into a definitive agreement with various institutional investors to raise $19.7 million in a private placement of its common stock.
Under the terms of the financing, Alexza is expected to sell approximately 8.1 million shares of common stock and warrants to purchase approximately 7.3 million shares of common stock at a total purchase price of $2.4325 per unit.
On September 29, 2009, the closing price for the Company's common stock was $2.32 per share. The investors in this private placement will receive 7-year warrants, exercisable immediately, to purchase 0.9 shares of Alexza Common Stock for each share of common stock purchased. The warrant exercise price is $2.77 per share. Alexza expects to net approximately $19.1 million in the transaction, after deducting offering expenses. RBC Capital Markets acted as the sole placement agent for this offering.
Under the terms of the financing, Alexza is expected to sell approximately 8.1 million shares of common stock and warrants to purchase approximately 7.3 million shares of common stock at a total purchase price of $2.4325 per unit.
On September 29, 2009, the closing price for the Company's common stock was $2.32 per share. The investors in this private placement will receive 7-year warrants, exercisable immediately, to purchase 0.9 shares of Alexza Common Stock for each share of common stock purchased. The warrant exercise price is $2.77 per share. Alexza expects to net approximately $19.1 million in the transaction, after deducting offering expenses. RBC Capital Markets acted as the sole placement agent for this offering.
You May Also Be Interested In
- Petroleum Development Corp (PETD) Closes 6.5M Offering at $26.50/Share
- BlackRock (BLK) Commences Secondary Offering for Barclays; Represents 19.6% Economic Ownership
- Auxilium Pharma (AUXL), Glaxo (GSK) Enter Testim 1% Co-Promotion Agreement
Create E-mail Alert Related Categories
Corporate News, Equity OfferingsRelated Entities
RBC CapitalSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
