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Financings Roundup

$35.5M Arena Financing Will Restructure Debt, Stretch Cash

By Catherine Shaffer

Wednesday, March 30, 2011
Arena Pharmaceuticals Inc. agreed to sell 12.15 million shares of common stock and 12,150 shares of preferred stock to entities affiliated with Deerfield Management. From gross proceeds of $35.5 million, approximately $17.7 million will be used to prepay a portion of loan principle owed to Deerfield. That principle would have been due in June 2013.

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