Xenon Pharmaceuticals (XENE) Prices $30M Common Stock Offering

September 8, 2016 9:04 AM EDT

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Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a clinical-stage biopharmaceutical company, today announced the pricing of a $30 million underwritten public offering of its common shares pursuant to its existing shelf registration statement and corresponding Canadian base shelf prospectus at a public offering price of $7.50 per share. The offering consists of 3.0 million common shares offered by Xenon and 1.0 million common shares offered by certain of Xenon’s existing securityholders named in the preliminary prospectus supplement for the offering, resulting in aggregate gross proceeds of approximately $22.5 million to Xenon and approximately $7.5 million to the selling securityholders. In addition, Xenon and the selling securityholders have granted to the underwriters of the offering an option for a period of 30 days to purchase up to an additional 450,000 common shares and 150,000 common shares, respectively, at the public offering price, less the underwriting discounts and commissions. Xenon will not receive any proceeds from the sale of the common shares by the selling securityholders. The offering is expected to close on or about September 13, 2016, subject to customary closing conditions.

Jefferies LLC, Stifel and Guggenheim Securities, LLC are acting as joint book-running managers for the offering.

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