Lexicon enters $75M at-the-market equity offering agreement with Jefferies

LEXICON PHARMACEUTICALS, INC.

Company may sell up to $75M of common stock through Jefferies in at-the-market offerings.
Jefferies receives 3.0% commission on gross proceeds; company also reimburses legal fees.
Invus affiliate (largest stockholder) has right to purchase shares to maintain ownership, subject to conditions.
Proceeds intended to fund commercial launch of INPEFA (sotagliflozin), R&D, and working capital.
Shares issued under existing shelf registration; prospectus supplement filed Dec 29, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LEXICON PHARMACEUTICALS, INC. entered into Open Market Sale Agreement with Jefferies LLC valued at up to $75,000,000 (effective 2023-12-29).

Action: entry
Agreement: atm program
Counterparty: Jefferies LLC
Value: up to $75,000,000
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023, Lexicon Pharmaceuticals, Inc., a Delaware corporation (the “ Company ”) entered into an Open Market Sale Agreement SM (the “ Agreement ”) with Jefferies LLC, as sales agent (“ Jefferies ”), pursuant to which the Company may offer and sell, from time to time, through Jefferies (the “public offerings”), shares of its common stock, par value $0.001, having an aggregate sales price of up to $75,000,000 (the “ Shares ”).

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419 material agreements filed in the last 30 days. Browse all material agreements →

LEXICON PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-306032

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