Published on 7/8/2009 in the Prospect News PIPE Daily.
New Issue: Somaxon wraps $5.36 million private placement of shares with warrants
By Devika Patel
Knoxville, Tenn., July 8 - Somaxon Pharmaceuticals, Inc. settled a $5.36 million private placement of stock on July 8, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The deal priced July 2.
The company sold 5,106,375 common shares at $1.05 per share.
Investors also received 5,106,375 warrants, which are exercisable at $1.155 for seven years.
Based in San Diego, Somaxon is a specialty pharmaceutical company focused on psychiatry and neurology.
Issuer: | Somaxon Pharmaceuticals, Inc.
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Issue: | Common stock
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Amount: | $5,361,693.75
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Shares: | 5,106,375
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Price: | $1.05
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Warrants: | For 5,106,375 shares
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Warrant expiration: | Seven years
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Warrant strike price: | $1.155
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Pricing date: | July 2
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Settlement date: | July 8
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Stock symbol: | Nasdaq: SOMX
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Stock price: | $1.05 at close July 2
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Market capitalization: | $13.82 million
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