Arena Pharmaceuticals, Inc.

Pharmaceutical firm exercises over-allotment option by underwriters

Published in Hospital and Nursing Home Week, March 10th, 2005

Arena Pharmaceuticals, Inc., (ARNA) announced the exercise in full by the underwriters of an over-allotment option to purchase 1,125,000 shares of common stock in connection with its follow-on stock offering that priced on February 1, 2005.

Including the over-allotment shares, the offering will total 8,625,000 shares at a public offering price of $6.00 per share, resulting in expected net proceeds to the company of approximately $48.3 million.

CIBC World Markets Corp. acted as the book-running manager in the offering. Piper Jaffray & Co. acted as co-lead manager. Needham & Company, Inc., Granite Financial Group, Inc., and Morgan Joseph & Co., Inc.,...

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Source: Hospital and Nursing Home Week (2005-03-10)

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