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Lexicon grosses $186mm in concurrent FOPO and sale to Invus
25 Mar 2010
Executive Summary
Lexicon Pharmaceuticals Inc., which is developing gene-targeting therapeutics for GI, cardiovascular, immune, metabolic, and eye diseases, grossed $186mm (net $181.4mm) in a concurrent follow-on public offering and equity sale to majority stockholder Invus, a private equity firm. The underwriters bought 96.5mm shares (including the overallotment) at $1.15. And following the exercise of a right to purchase additional shares, Invus and an affiliate acquired 65.2mm shares also for $1.15, a 36% discount to the ten-day average prior to the FOPO announcement.
Deal Industry
- Pharmaceuticals
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Biotechnology
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Drug Discovery Tools
- Genomics-Proteomics
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Drug Discovery Tools
Deal Status
- Final
Deal Type
-
Financing
- FOPO
- Private Investment in Public Equity
- Private Placement
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Lexicon grosses $186mm in concurrent FOPO and sale to Invus
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