Xenon Pharmaceuticals Raises $300M Via Equity

Xenon Pharmaceuticals Inc XENE priced its underwritten public offering of 8.5 million shares and pre-funded warrants to purchase up to 1.7 million shares.
The common share offer price of $29.50 represents a marginal discount of 1.6% over the last close price of $29.99 on Tuesday.
The pre-funded warrants are being offered at $29.4999/ pre-funded warrant.
The gross proceeds to Xenon are expected to be approximately $300.0 million.
Underwriters have an option to purchase up to an additional 1.5 million shares. The offering will close by October 8.
Xenon will use the proceeds for the clinical development of our XEN1101 and XEN496 product candidates.
See the SEC prospectus here.
Related: Xenon Pharma Shares Jump After Epilepsy Treatment Phase 2 Data Meets Primary Endpoint.
Price Action: XENE stock is down 1.30% at $29.60 during the premarket session on the last check Wednesday.