WASHINGTON (dpa-AFX) - Avanir Pharmaceuticals Inc ( AVNR) said Monday it is offering to sell $200 million of its common stock in an underwritten public offering.
J.P. Morgan, Deutsche Bank Securities and BofA Merrill Lynch are acting as joint book-running managers for the offering.
Avanir intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. All of the shares to be sold in the offering are being sold by Avanir.
Avanir intends to use the net proceeds from the offering for general corporate purposes, which include, but are not limited to, funding NUEDEXTA commercial activities, funding ongoing and future clinical trials, funding the commercial launch of AVP-825, if approved, and for general and administrative expenses.
The company also use a portion of the net proceeds to pay off outstanding indebtedness, if any, and/or acquire or invest in complementary businesses, products and technologies.
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