LEXG-Lexicon Genetics Message Board

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Biotech / Medical : LEXG-Lexicon Genetics

LXRX 1.385

+3.7%

11:37 AM EDT

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To: rkrw who wrote (231)	3/16/2010 7:20:37 PM
From: Arthur Radley	Read Replies (1) of 254

This part of the 2007 deal indicates that Invus forced this latest secondary, however, by them taking down more shares IMO that is a positive. Considering the amount they now have invested........I hope their DD is sound! "To assure long-term adequate financing, Invus will have the right to require the company to initiate up to two rights offerings, which would provide all shareholders with pro rata rights to acquire additional common stock in an aggregate amount not to exceed $345 million. The first rights offerings may be initiated, subject to certain adjustments, beginning 27 months from the closing of the initial investment, and the second rights offering may be initiated beginning 12 months after the initiation of the first, or 39 months from the closing of the initial investment if the first rights offering does not take place. The initial investment and subsequent rights offerings are designed to achieve up to approximately $550 million in proceeds to Lexicon. Invus would participate in the rights offering for up to its pro rata portion of the offering, and would commit to purchase the entire portion of the offering not subscribed for by other stockholders. "

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