Senomyx (SNMX)

Senomyx announced the pricing of an underwritten public offering of 7,142,857 shares of its common stock at a price to the public of $2.80 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $20.0 million. The offering is expected to close on or about February 18, 2010, subject to customary closing conditions. Senomyx has also granted the underwriters a 30-day option to purchase up to an aggregate of 1,071,428 additional shares of common stock to cover over-allotments, if any. All of the shares in the offering are being sold by Senomyx.
Senomyx anticipates using the net proceeds from the offering to fund research and development efforts, and for general corporate purposes, including working capital.

Feb 15 · 7:51:00 PM · Source: The Medical News
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by Michael Oliveto