Tranzyme Pharma Raises $10M in Registered Direct Offering

Tranzyme Pharma TZYM, today announced that it has agreed to sell approximately 2.6 million shares of its common stock at a price of $3.85 per share in a registered direct offering. The offering will raise gross proceeds to Tranzyme of approximately $10.0 million before deducting underwriters' discounts and other offering expenses. Tranzyme has also granted the underwriters a 30-day option to purchase up to an additional fifteen percent of the shares of common stock offered to cover over-allotments, if any, which would result in additional gross proceeds of approximately $1.5 million if exercised in full. The securities were offered pursuant to an effective shelf registration statement. The company intends to use the proceeds for working capital and other general corporate purposes. The Company anticipates that the offering will close on September 18, 2012, subject to customary closing conditions, at which time Tranzyme will receive the cash proceeds and deliver the securities. Cowen and Company, LLC acted as sole bookrunning manager for the offering. JMP Securities LLC acted as a co-manager for the offering. A shelf registration statement relating to the shares of common stock issued in the offering has been filed with See full press release