PALO ALTO, Calif., July 7, 2009 /PRNewswire-FirstCall/ -- Jazz
Pharmaceuticals, Inc. (Nasdaq: JAZZ) today announced the signing and closing
of a private placement of an aggregate of 1,895,734 units, comprised of an
aggregate of 1,895,734 shares of common stock and warrants to purchase up to
947,867 additional shares of common stock for aggregate gross proceeds of
approximately $7 million. The per unit purchase price for a share of common
stock and a warrant to purchase 0.50 of a share of common stock was $3.6925.
The warrants have an exercise price of $4.00 per share and are exercisable for
seven years.
The gross proceeds of the private placement were $7.0 million, and the
company intends to use the proceeds for general corporate purposes. The units
were purchased by funds affiliated with Longitude Capital. In connection with
the transaction, Patrick Enright, a Managing Director of Longitude Capital,
joined Jazz Pharmaceuticals' Board of Directors.
The securities offered and sold by Jazz Pharmaceuticals in this private
placement have not been registered under the Securities Act of 1933, as
amended (the "Securities Act"), or state securities laws and may not be
offered or sold in the United States absent registration with the Securities
and Exchange Commission ("SEC") or an applicable exemption from registration
requirements. Jazz Pharmaceuticals has agreed to file a registration statement
with the SEC covering resale of the shares of common stock and the shares of
common stock issuable upon exercise of the warrants issued in the private
placement.
About Jazz Pharmaceuticals, Inc.
Jazz Pharmaceuticals is a specialty pharmaceutical company that
identifies, develops and commercializes innovative treatments for important,
underserved markets in neurology and psychiatry. For further information
please see www.jazzpharmaceuticals.com.
Contact at Jazz Pharmaceuticals:
Willie Quinn, Executive Director, Corporate Development of Jazz
Pharmaceuticals, Inc.
+1-650-496-2800
investorinfo@jazzpharmaceuticals.com
BCC Partners on behalf of Jazz Pharmaceuticals, Inc.
Karen L. Bergman, 650-575-1509
Michelle Corral, 415-794-8662
SOURCE Jazz Pharmaceuticals, Inc.
07/07/2009
CONTACT: Willie Quinn, Executive Director, Corporate Development of Jazz
Pharmaceuticals, Inc.
, +1-650-496-2800, investorinfo@jazzpharmaceuticals.com;
Karen L. Bergman, +1-650-575-1509, or Michelle Corral, +1-415-794-8662, both
of BCC Partners for Jazz Pharmaceuticals, Inc.
Web Site: http://www.jazzpharmaceuticals.com
(JAZZ)
