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ARNA > SEC Filings for ARNA > Form 8-K on 6-Jul-2009All Recent SEC Filings

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Form 8-K for ARENA PHARMACEUTICALS INC


6-Jul-2009

Other Events


Item 8.01 Other Events.

As previously announced, on June 17, 2009, we entered into a Facility Agreement with Deerfield Private Design Fund, L.P., Deerfield Private Design International, L.P., Deerfield Partners, L.P., Deerfield International Limited, Deerfield Special Situations Fund, L.P., and Deerfield Special Situations Fund International Limited (collectively, "Deerfield"), pursuant to which Deerfield agreed to provide us with a $100 million secured loan and we agreed to issue Deerfield warrants to purchase an aggregate of 28 million shares of our common stock at an exercise price of $5.42 per share. On July 6, 2009, this transaction closed and we received gross proceeds of $100 million and issued the related warrants to Deerfield.


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