Arena Pharma (ARNA) About 5% Lower; to Raise ~$33M in Private Offering
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Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) is about 5 percent lower following an equity announcement made earlier today.
Arena said it "has agreed to sell 9,953,250 shares of its common stock, at a price of $1.65775 per share, and approximately 9,953 shares of its Series D Convertible Preferred Stock, at a price of $1,657.75 per share, in a registered direct public offering to entities affiliated with Deerfield Management."
For more from the release, click here.
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Arena said it "has agreed to sell 9,953,250 shares of its common stock, at a price of $1.65775 per share, and approximately 9,953 shares of its Series D Convertible Preferred Stock, at a price of $1,657.75 per share, in a registered direct public offering to entities affiliated with Deerfield Management."
For more from the release, click here.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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