SAN DIEGO, June 1, 2020 /PRNewswire/ -- Arena
Pharmaceuticals, Inc. (Nasdaq: ARNA) today announced the completion
of its previously announced underwritten public offering of
6,325,000 shares of its common stock at a price to the public of
$50.00 per share, including 825,000
shares sold pursuant to the exercise in full of the underwriters'
option to purchase additional shares. All of the shares were sold
by Arena. Including the option exercise, the aggregate gross
proceeds to Arena from the offering were approximately $316.3 million, before deducting the underwriting
discounts and commissions and offering expenses.
BofA Securities, Citigroup and SVB Leerink acted as the joint
book-running managers for the offering. Credit Suisse and Cantor
also acted as book-running managers for the offering. JMP
Securities and Needham & Company acted as co-managers for the
offering.
The shares of common stock described above were offered by Arena
pursuant to a shelf registration statement filed by Arena with the
Securities and Exchange Commission (SEC) that became automatically
effective on February 27, 2020. A
final prospectus supplement and accompanying prospectus related to
the offering have been filed with the SEC and are available on the
SEC's website located at http://www.sec.gov. Copies of the
final prospectus supplement and the accompanying prospectus related
to the offering may be obtained from BofA Securities,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention:
Prospectus Department, or by email at
dg.prospectus_requests@bofa.com; or from Citigroup, c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800)
831-9146; or from SVB Leerink, Attention: Syndicate Department, One
Federal Street, 37th Floor, Boston,
MA 02110, or by telephone at (800) 808-7525, ext. 6218, or
by email at syndicate@svbleerink.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Arena Pharmaceuticals
ARENA
Pharmaceuticals is a team with a singular focus – deliver our
important medicines to patients.
In a rapidly changing global market, we work with a sense of
urgency every day to understand the needs of all our stakeholders,
identify bold, sometimes disruptive, ideas to get our medicines to
patients, and relentlessly execute until it's done.
ARENA - Care more. Act differently.
Corporate Contact:
Megan E. Knight
Arena Pharmaceuticals, Inc.
Director, Investor Relations
mknight@arenapharm.com
858.210.3635
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SOURCE Arena Pharmaceuticals, Inc.