By Sheri Kasprzak
New York, Oct. 19 - Encysive Pharmaceuticals Inc. obtained a $75 million common stock equity financing from Azimuth Opportunity Ltd.
The 18-month line allows Azimuth to buy shares of Encysive at a discount to the market price. The exact discount could not be determined Thursday.
Proceeds will be used for general corporate purposes, including the development and commercialization of the company's products.
Houston-based Encysive develops novel, synthetic and small-molecule compounds used to treat vascular and inflammatory diseases.
| Issuer: | Encysive Pharmaceuticals Inc.
|
| Issue: | Common stock equity financing
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| Amount: | $75 million
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| Tenor: | 18 months
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| Investors: | Azimuth Opportunity Ltd.
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| Settlement date: | Oct. 19
|
| Stock symbol: | Nasdaq: ENCY
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| Stock price: | $5.19 at close Oct. 19
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