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.
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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