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Biotech / Medical : LEXG-Lexicon Genetics -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (157)	7/24/2003 2:06:22 AM
From: tuck	Respond to of 254

>>THE WOODLANDS, Texas, July 23 /PRNewswire-FirstCall/ -- Lexicon Genetics Incorporated (Nasdaq: LEXG - News) today announced the pricing of a public offering of 10.0 million shares of its common stock at $5.25 per share. Net proceeds to the company are expected to be approximately $49.0 million. All of the shares are being offered by Lexicon under an effective shelf registration statement previously filed with the Securities and Exchange Commission. The underwriters have a 30-day option to purchase up to an additional 1.5 million shares of common stock from Lexicon to cover over-allotments, if any.<< snip And geez, did LEXG ever get whacked. Anybody got an idea of why the offering is priced so low? I never saw a formula. Buying op coming up? Cheers, Tuck