Lexicon Pharma (LXRX) Announces $250M Private Placement
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Lexicon Announces Oversubscribed $250 Million Private Placement of Equity Securities
March 11, 2024 7:05 AM EDTTHE WOODLANDS, Texas, March 11, 2024 (GLOBE NEWSWIRE) -- Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) (Lexicon) today announced it has entered into a securities purchase agreement (the purchase agreement) for a private investment in public equity financing that is expected to result in gross proceeds of approximately $250 million, before deducting placement agent fees and offering expenses. Pursuant to the terms of the purchase agreement, Lexicon will sell approximately 2.3 million shares of series a convertible preferred stock (the Series A Convertible Preferred Stock), at a price per share of $108.50, convertible into approximately 115.2... More
