---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-159886"
form_type: "8-K"
ticker: "LXRX"
cik: "0001062822"
company_name: "LEXICON PHARMACEUTICALS, INC."
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T07:55:36.720820+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lexicon raises $125M in public offering and private placement to fund INPEFA launch

## Summary
- Public offering of 23,924,705 shares at $2.60/share, gross $62.2M.
- Concurrent private placement of 24,152,218 shares at $2.60/share to Invus affiliate, gross $62.8M.
- Underwriters' option and private placement option fully exercised; total gross proceeds ~$125M.
- Proceeds to fund commercial launch of INPEFA (sotagliflozin) and R&D.

## SEC filing metadata
- accession: 0001193125-23-159886
- form_type: 8-K
- ticker: LXRX
- cik: 0001062822
- company_name: LEXICON PHARMACEUTICALS, INC.
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1062822/000119312523159886/0001193125-23-159886-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1062822/000119312523159886/d512290d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-159886
- JSON: https://secwatch.observer/filing/0001193125-23-159886.json
- Plain text: https://secwatch.observer/filing/0001193125-23-159886.txt

## Key facts
- Material Agreements
  LEXICON PHARMACEUTICALS, INC. entered into Purchase Agreement with Artal International S.C.A., Artal Group S.A., Artal International Management S.A., Invus Advisors, L.L.C., Invus Public Equities, L.P., Invus, L.P., Mr. Amaury Wittouck, Stichting Administratiekantoor Westend, Westend S.A. valued at 24,152,218 shares of common stock at Public Offering Price, total purchase price approx. $72.2 milli (effective 2023-05-31).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Artal International S.C.A., Artal Group S.A., Artal International Management S.A., Invus Advisors, L.L.C., Invus Public Equities, L.P., Invus, L.P., Mr. Amaury Wittouck, Stichting Administratiekantoor Westend, Westend S.A.
  - Value: 24,152,218 shares of common stock at Public Offering Price, total purchase price approx. $72.2 milli
  - Effective: 2023-05-31
  source text: On May 31, 2023, the Company entered into a Purchase Agreement (the “ Purchase Agreement ”) with Artal International S.C.A., Artal Group S.A., Artal International Management S.A., Invus Advisors, L.L.C., Invus Public Equities, L.P., Invus, L.P. (“ Invus ”), Mr. Amaury Wittouck, Stichting Administratiekantoor Westend and Westend S.A (collectively, the “ Invus Entities ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1062822/000119312523159886/0001193125-23-159886-index.htm
- Material Agreements
  LEXICON PHARMACEUTICALS, INC. entered into Underwriting Agreement with Citigroup Global Markets Inc., Jefferies LLC, Piper Sandler & Co. valued at 23,924,705 shares of common stock at $2.60 per share, net proceeds approx. $66.9 million (effective 2023-05-31).
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Citigroup Global Markets Inc., Jefferies LLC, Piper Sandler & Co.
  - Value: 23,924,705 shares of common stock at $2.60 per share, net proceeds approx. $66.9 million
  - Effective: 2023-05-31
  source text: On May 31, 2023, Lexicon Pharmaceuticals, Inc. (the “ Company ”) entered into an Underwriting Agreement (the “ Underwriting Agreement ”) with Citigroup Global Markets Inc. (“ Citigroup ”), Jefferies LLC (“ Jefferies ”) and Piper Sandler & Co. (“ Piper Sandler ”), as representatives of the several underwriters named therein (the “ Underwriters ”), relating to a public offering (the “ Public Offering ”) of 23,924,705 shares (the “ Shares ”) of the Company’s common stock, par value $0.001 per share (“ Common Stock ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1062822/000119312523159886/0001193125-23-159886-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.