AVANIR Completes $17.1 Million Sale of Common Stock.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- AVANIR Pharmaceuticals (AMEX AMEX See: American Stock Exchange :AVN AVN Aviation AVN Avenue AVN Adult Video News AVN Avascular Necrosis AVN Atrioventricular Node AVN Aviation Model (weather forecast model, now Global Forecast System) AVN Air Vanuatu (ICAO code) ) announced that on April 8, 2005, it completed the previously announced sale of 7,770,000 shares of Class A common stock in a registered direct offering at a price of $2.20 per share. The offering raised gross offering proceeds of approximately $17.1 million and net offering proceeds of approximately $15.8 million, after deducting commissions and offering fees and expenses. All of the shares were sold by AVANIR Pharmaceuticals. The shares were offered under the Company's effective shelf registration statement on Form S-3. CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Corp. acted as sole bookrunning placement agent, and Leerink Swann & Co. acted as co-placement agent in connection with this transaction. AVANIR Pharmaceuticals, based in San Diego, is a drug discovery and development company focused on the development of treatments for chronic diseases. The information contained in this press release, including any forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contained herein, should be reviewed in conjunction with the company's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other publicly available information regarding the company. Copies of such information are available from the company upon request. Such publicly available information sets forth many risks and uncertainties related to the company's business and technology. Forward-looking statements often contain such words like "estimate," "anticipate," "believe," "plan" or "expect." The Company disclaims any intent or obligation to update these forward-looking statements. |
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