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Xenon Pharmaceuticals Raises $300M Via Equity

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  • Xenon Pharmaceuticals Inc (NASDAQ: XENE) priced its underwritten public offering of 8.5 million shares and pre-funded warrants to purchase up to 1.7 million shares.

  • The common share offer price of $29.50 represents a marginal discount of 1.6% over the last close price of $29.99 on Tuesday.

  • The pre-funded warrants are being offered at $29.4999/ pre-funded warrant.

  • The gross proceeds to Xenon are expected to be approximately $300.0 million.

  • Underwriters have an option to purchase up to an additional 1.5 million shares. The offering will close by October 8.

  • Xenon will use the proceeds for the clinical development of our XEN1101 and XEN496 product candidates.

  • See the SEC prospectus here.

  • Related: Xenon Pharma Shares Jump After Epilepsy Treatment Phase 2 Data Meets Primary Endpoint.

  • Price Action: XENE stock is down 1.30% at $29.60 during the premarket session on the last check Wednesday.

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