Lexicon Announces Completion of Public Offering of Common Stock
October 14 2009 - 4:44PM
PR Newswire (US)
THE WOODLANDS, Texas, Oct. 14 /PRNewswire-FirstCall/ -- Lexicon
Pharmaceuticals, Inc. (NASDAQ:LXRX) today announced the completion
of its previously-announced public offering of shares of its common
stock. The offering included an aggregate of 38,333,332 shares of
Lexicon's common stock after the exercise in full by the
underwriters of their over-allotment option and by Invus, L.P.,
Lexicon's largest stockholder, of its associated right to purchase
additional shares. Of this total, 22,878,187 shares were offered
through the underwriters and 15,455,145 shares are being purchased
by Invus, including 2,015,888 shares being purchased by Invus
pursuant to its right to purchase additional shares. Lexicon
expects to receive proceeds from Invus' exercise of its right to
purchase additional shares on October 15, 2009. The net proceeds to
Lexicon from the offering are approximately $55.2 million, after
deducting the underwriting discount and estimated offering expenses
and giving effect to the anticipated receipt of proceeds from
Invus' exercise of its right to purchase additional shares. The
shares were offered pursuant to an effective shelf registration
statement previously filed with the Securities and Exchange
Commission. Morgan Stanley acted 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 was made only by means of a final
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 the final 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.
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. Additional risks and
uncertainties relating to 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
final prospectus supplement related to the public offering filed
with the Securities and Exchange Commission on October 8, 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 of Corporate Communications and
Investor Relations of Lexicon Pharmaceuticals, Inc.,
+1-281-863-3225, Web Site: http://www.lexpharma.com/
http://www.sec.gov/
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