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Arena Pharma Offer Priced at $16.90

The company sells 9.8 million shares to the public.
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Arena Pharmaceuticals (ARNA) - Get Arena Pharmaceuticals, Inc. Report priced its public offering of 9,752,508 shares at $16.90 each.

The San Diego company said it's offering all the shares and underwriters have a 30-day option to purchase up to 1,462,876 additional shares to cover over-allotments. CIBC World Markets and UBS Investment Bank are acting as joint book-running managers, while Needham & Co., Piper Jaffray & Co., SG Cowen & Co., Morgan Joseph & Co. and Montgomery & Co. are acting as co-managers.

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