Zogenix Prices Public Offering Of 26.67 Mln Shares At $2.25/Share

(RTTNews) - Zogenix, Inc. (ZGNX) announced that it has priced an underwritten public offering of 26.67 million common shares at $2.25 per share. The offering is expected to close on or about November 12, 2013.

Zogenix has granted underwriters a 30-day option tobuy up to 4 million additional shares to cover over-allotments.

The company expects offering net proceeds, after underwriting discounts and commissions and estimated offering costs, to be approximately $56 million.

Zogenix intends to use net proceeds to fund pre-commercialization and commercialization activities for Zohydro ER, additional development activities of Zohydro ER and Relday and for working capital and other general corporate purposes. Zogenix may also use a portion of proceeds to in-license, acquire or invest in complementary businesses or products.

Stifel, Leerink Swann LLC and Wells Fargo Securities, LLC are acting as book-running managers for the offering.