Marinus Pharma slides on deep-discounted $60 mln stock deal

Marinus Pharmaceuticals

08/11/2022 13:13

** Marinus Pharmaceuticals Inc's  MRNS.O  shares down ~17%
premarket after co raises equity at steep discount
    ** Co sells ~12.6 mln shares, including ~2.1 mln pre-funded
warrants, at $4.75  urn:newsml:reuters.com:*:nBw2zHh7ga
    ** Offering price represents 15.3% discount to stock's last
close
    ** Co to use net offering proceeds to fund continued
commercialization of seizure treatment Ztalmy, development of
other product candidates, and for other purposes
    ** SVB Secs, RBC and Cantor Fitzgerald jt bookrunners
    ** Marinus has ~37.2 mln shares outstanding for ~$210 mln
market cap, per Refinitiv data, and ~37 mln shares of public
float
    ** YTD, shares have lost 53% through Mon close
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))