Lexicon Announces Proposed Offering of 27,500,000 Shares of Common Stock
October 07 2009 - 4:42PM
PR Newswire (US)
THE WOODLANDS, Texas, Oct. 7/PRNewswire-FirstCall/ -- Lexicon
Pharmaceuticals, Inc. (NASDAQ:LXRX) today announced that it is
offering to sell, subject to market and other conditions,
27,500,000 shares of its common stock pursuant to an effective
shelf registration statement, of which 16,412,613 shares are being
offered through the underwriters and 11,087,387 shares are being
offered to Invus, L.P., Lexicon's largest stockholder. Lexicon also
intends to grant the underwriters a 30-day option to purchase up to
an aggregate of 2,461,892 additional shares of common stock to
cover over-allotments, if any. All of the shares in the offering
are to be sold by Lexicon. Morgan Stanley will be acting as the
sole book-runner for the offering, with Thomas Weisel Partners LLC
acting as co-manager. This press release does not constitute an
offer to sell, or the solicitation of an offer to buy, these
securities, nor will there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale is
not permitted. The offering of these securities will be made only
by means of a preliminary prospectus supplement and accompanying
prospectus, copies of which may be obtained from Morgan Stanley
& Co. Incorporated, Attn: Prospectus Department, 180 Varick
Street, 2nd Floor, New York, New York 10014, telephone: (866)
718-1649, or by emailing . The issuer has filed a registration
statement (including a base prospectus) with the Securities and
Exchange Commission, or SEC, for an offering to which this
communication relates. Before you invest, you should read the
prospectus in that registration statement and related prospectus
supplements and other documents that the issuer has filed or will
file with the SEC for more complete information about the issuer
and this offering. You may get these documents for free by visiting
EDGAR on the SEC website at http://www.sec.gov/. Alternatively, you
may obtain a preliminary prospectus supplement and accompanying
prospectus as indicated above. About Lexicon Lexicon is a
biopharmaceutical company focused on discovering breakthrough
treatments for human disease. Lexicon currently has five drug
candidates in development for autoimmune disease, carcinoid
syndrome, diabetes, glaucoma and irritable bowel syndrome, all of
which were discovered by the company's research team. Safe Harbor
Statement This press release contains "forward-looking" statements,
including statements related to Lexicon's expectations regarding
the completion, timing and size of the proposed public offering.
Any statements contained in this press release that are not
statements of historical fact may be deemed to be forward-looking
statements. Words such as "anticipated," "will," "proposed," and
similar expressions are intended to identify these forward-looking
statements. There are a number of important factors that could
cause Lexicon's results to differ materially from those indicated
by these forward-looking statements, including risks and
uncertainties related to market conditions and the satisfaction of
customary closing conditions related to the proposed public
offering. There can be no assurance that Lexicon will be able to
complete the proposed public offering on the anticipated terms, or
at all. Additional risks and uncertainties relating to the proposed
public offering, Lexicon and its business can be found under the
headings "Factors Affecting Forward-Looking Statements" and "Risk
Factors" in Lexicon's annual report on Form 10-K for the year ended
December 31, 2008, as filed with the Securities and Exchange
Commission and under the heading "Risk Factors" in the preliminary
prospectus supplement related to the proposed public offering to be
filed with the Securities and Exchange Commission on October 7,
2009. Lexicon undertakes no obligation to update or revise any such
forward-looking statements, whether as a result of new information,
future events or otherwise. DATASOURCE: Lexicon Pharmaceuticals,
Inc. CONTACT: Jason Ray, Manager, Corporate Communications and
Investor Relations of Lexicon Pharmaceuticals, Inc.,
+1-281-863-3225, Web Site: http://www.lexpharma.com/
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