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Orphan drug developer Retrophin completes $25mm PIPE
26 Aug 2013
First-time and returning institutional backers participated in a $25mm PIPE for Retrophin Inc. (rare pediatric disease therapeutics for neurological, renal, and muscular conditions). Investors bought 5.6mm shares for $4.50 (a 12% discount) and received five-year warrants to purchase 2.8mm shares at $6.00. The placement agents were Stifel Nicolaus & Co. and Roth Capital Partners. The company concurrently disclosed that it was negotiating an exclusive US license to a large pharmaco’s IP to develop a product for autism and schizophrenia. Retrophin will use the new funds to attempt to put this agreement in place.
Private Investment in Public Equity
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