Alexza to Raise $19.7 Million in Private Placement

Alexza Pharmaceuticals, Inc. (NASDAQ:ALXA) announced that it has entered into a definitive agreement with various institutional investors to raise $19.7 million in a private placement of its common stock. Under the terms of the financing, Alexza is expected to sell approximately 8.1 million shares of common stock and warrants to purchase approximately 7.3 million shares of common stock at a total purchase price of $2.4325 per unit. On September 29, 2009, the closing price for the Company's common stock was $2.32 per share. The investors in this private placement will receive 7-year warrants, exercisable immediately, to purchase 0.9 shares of Alexza Common Stock for each share of common...

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