Xenon Pharmaceuticals (XENE) Commences Public Offering of Common Shares

September 7, 2016 4:40 PM EDT

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.

Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a clinical-stage biopharmaceutical company, today announced that it has commenced an underwritten public offering of its common shares pursuant to its existing shelf registration statement and corresponding Canadian base shelf prospectus. The common shares in the proposed offering are to be sold by Xenon and certain of Xenon’s existing securityholders to be named in the preliminary prospectus supplement for the offering. It is expected that the underwriters of the offering will be granted an option for a period of 30 days to purchase up to an additional 15% of the common shares offered in the offering, 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 subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

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

A shelf registration statement relating to the common shares offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on December 7, 2015 and declared effective by the SEC on January 5, 2016.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Equity Offerings

Related Entities

Stifel, Jefferies & Co, Guggenheim

Add Your Comment