SAN MATEO, Calif., Dec. 26 /PRNewswire-FirstCall/ -- NeurogesX, Inc. (Nasdaq: NGSX), a biopharmaceutical company focused on developing novel pain management therapies, today announced that on December 23, 2007 it entered into a securities purchase agreement in connection with a private placement to a group of institutional accredited investors and, subject to standard closing conditions, will receive approximately $25 million in gross proceeds from the sale of 4,020,910 shares of its common stock at a purchase price of $6.18 per share, the last closing price prior to signing of NGSX common stock on the NASDAQ Global Market, and the issuance of five-year warrants to purchase 1,206,273 additional shares of NGSX common stock at an exercise price of $8.034 per share. The warrants were purchased at a price per underlying share of $0.125.
Pacific Growth Equities, LLC served as the exclusive placement agent for the transaction.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements. NeurogesX has agreed to file a registration statement with the Commission covering the resale of the shares of common stock, including shares of common stock issuable upon exercise of the warrants, sold in the private placement.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registra
|SOURCE NeurogesX, Inc.|
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