Longboard Pharmaceuticals (LBPH) prices 5m shares at $4

Longboard Pharmaceuticals, Inc. (Nasdaq: LBPH) announced the pricing of its previously announced underwritten public offering of 5,000,000 shares of its voting common stock at a price to the public of $4.00 per share. The gross proceeds to Longboard from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be $20 million.

In addition, Longboard has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of voting common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on February 10, 2023, subject to satisfaction of customary closing conditions.

Evercore ISI and Cantor Fitzgerald are acting as joint book-running managers for the proposed offering.

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