LEXINGTON – Interneuron Pharmaceuticals, Inc. has announced that it had entered into agreements with a group of institutional investors and one of their affiliates to sell approximately 2.5 million shares of newly issued Interneuron common stock in a private placement, resulting in $20 million in gross proceeds to Interneuron. Legg Mason Wood Walker, Inc. acted as the placement agent for this transaction. The company plans to use the proceeds of the private placement to support product development and business development activities. In addition, Interneuron may use a portion of the net proceeds for working capital and general corporate purposes. Evolving Funding Landscape for Not-for-Profits Not-for-profit organizations are being asked to do more with less,… These securities 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 or an applicable exemption from the registration requirements.
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Interneuron announces private placement
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