New Issue: Lexicon orchestrates $68.19 million private placement of common stock

By Devika Patel

Knoxville, Tenn., March 16 - Lexicon Pharmaceuticals, Inc. negotiated a private placement of stock with Invus, LP on March 15, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal will raise $68.19 million.

The company plans to sell 59,296,749 common shares at $1.15 apiece.

Proceeds will be used for development of innovative database migration solutions, to execute a go-to-market strategy and for general working capital.

Based in the Woodlands, Texas, Lexicon develops treatments for human diseases.

Issuer:	Lexicon Pharmaceuticals, Inc.
Issue:	Common stock
Amount:	$68,191,261
Shares:	59,296,749
Price:	$1.15
Warrants:	No
Investor:	Invus, LP
Pricing date:	March 15
Stock symbol:	Nasdaq: LXRX
Stock price:	$1.42 at close March 15
Market capitalization:	$220 million

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