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Biotechnology Business
Arena Pharmaceuticals Announces Public Offering of Common Stock
November 9th, 2007
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) announced that it has filed a preliminary prospectus supplement to a shelf registration statement with the Securities and Exchange Commission relating to a proposed public offering of 10,000,000 shares of its common stock. In connection with this offering, Arena plans to grant to the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock to cover over-allotments, if any. All of the shares are being offered by Arena. CIBC World Markets and UBS Investment Bank are acting as joint book-running managers in this offering. The securities may not be sold nor may offers to buy be accepted prior to...
Source: Biotech Law Weekly (2007-11-09)
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