Amarin Corp plc (AMRN) Prices 21.1M Offering at $2.85/ADS

August 11, 2016 9:21 AM EDT

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Amarin Corporation plc (NASDAQ: AMRN) today announced the pricing of an underwritten public offering of 21,100,000 American Depositary Shares ("ADSs") at a price to the public of $2.85 per ADS. The net proceeds to the company from this offering are expected to be approximately $56.1 million, after deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on or about August 16, 2016, subject to customary closing conditions.

Jefferies LLC and Citigroup Global Markets Inc. are acting as joint book-running managers in the offering. Cantor Fitzgerald & Co. is acting as lead manager and H.C. Wainwright & Co. and SunTrust Robinson Humphrey are acting as co-managers in this offering. Amarin has granted the underwriters a 30-day option to purchase up to an aggregate of 3,165,000 additional ADSs. Amarin anticipates using the net proceeds from the offering to advance its REDUCE-IT cardiovascular outcomes trial and for general corporate and working capital purposes.

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