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By Ru Back Packer Staff, updated Sunday, January 28, 9:36 AM

Slide #352. Ventrus Biosciences, Inc. Preferred Stock Offering

Company: Ventrus Biosciences, Inc. (VTUS)
Date announced: 1/29/2013
Shares Offered: 220,000
Date of Pricing: 1/30/2013
Price Per Share: $25.00
Closed Date: 2/4/2013
Preferred Stock Offering Details: Ventrus Biosciences, Inc. (Nasdaq:VTUS) announced today that it is concurrently offering to sell, subject to market and other conditions, (i) shares of its common stock in an underwritten public offering, and (ii) shares of its Series A Convertible Preferred Stock ("Series A") in a separate underwritten public offering. The Series A is non-voting and each share of Series A is convertible into 10 shares of Ventrus common stock, provided that conversion will be prohibited if, as a result, the holder and its affiliates would own more than 9.98% of the total number of Ventrus shares of common stock then outstanding. All of the shares in these offerings are to be sold by Ventrus. Ventrus also intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the common stock public offering to cover over-allotments, if any.

Ventrus Biosciences is a development stage pharmaceutical company focused on the development of late-stage prescription drugs for gastrointestinal disorders, specifically anal disorders. Co.'s product candidate portfolio consists of two in-licensed late-stage drugs: VEN 307 (topical diltiazem), which is intended to treat pain associated with anal fissures; and VEN 308 (topical phenylephrine), which is intended to treat fecal incontinence. These candidates are two molecules that were previously approved and as of Dec 31 2012, were marketed for other indications and that have been formulated into Co.'s topical treatments for these new gastrointestinal indications.
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Name: Assembly Biosciences Inc
Sector: Drugs & Pharmaceuticals

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