Rigel Announces Prices Public Offering of 16.3M Shares at $8.00 per Share

Rigel Pharmaceuticals, Inc. RIGL, today announced the pricing of its previously announced underwritten public offering of 16,300,000 shares of its common stock, offered at a price of $8.00 per share to the public. The gross proceeds to Rigel from this offering are expected to be approximately $130,400,000, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by Rigel. All of the shares in the offering are to be sold by Rigel. The offering is expected to close on or about June 1, 2011, subject to the satisfaction of customary closing conditions. Rigel has granted the underwriters a 30-day option to purchase up to an aggregate of 2,445,000 additional shares of common stock to cover overallotments, if any.