trending Market Intelligence /marketintelligence/en/news-insights/trending/zFHr3gpQmKJTgmbw1uBM8w2 content esgSubNav
In This List

Marinus raises $70M from common stock offering, private placement

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Perspectives from China: Chinese M&A in 2022


Marinus raises $70M from common stock offering, private placement

Marinus Pharmaceuticals Inc. said it raised approximately $70 million from a private and a public offering after underwriters of its previously announced offering fully exercised their overallotment option.

The Radnor, Pa.-based pharmaceutical company sold 32,200,000 shares at $1.25 apiece, including the additional 4,200,000 shares as part of underwriters' overallotment option.

The gross proceeds of $70 million includes a concurrent purchase of up to $30 million of the company's common stock by private investors.

Oppenheimer & Co. Inc. and Ladenburg Thalmann & Co. Inc. were the joint book-running managers for the offering, while Craig-Hallum Capital Group LLC acted as co-manager.

The company aims to use the net proceeds to develop its experimental drug ganaxolone for rare seizure disorders. The drug failed to beat the placebo in the second part of a mid-stage clinical trial in postpartum depression in July.