Orexigen to exchange $6.46 million of convertibles for new stock

By Tali Rackner

Minneapolis, Dec. 1 – Orexigen Therapeutics, Inc. agreed to issue an aggregate of 2,135,268 shares of its common stock, par value $0.001 per share, in exchange for about $6.46 million in aggregate principal amount of its 2.75% convertible exchange senior notes due 2020 and 2.75% convertible senior notes due 2020, according to an 8-K filing with the Securities and Exchange Commission.

The transaction closed on Nov. 30.

San Diego-based Orexigen is a biopharmaceutical company focused on development of treatments of obesity.

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