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DRRX > SEC Filings for DRRX > Form 8-K on 13-Nov-2013All Recent SEC Filings

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Form 8-K for DURECT CORP


13-Nov-2013

Entry into a Material Definitive Agreement, Other Events, Financial Statements and Ex


Item 1.01. Entry into a Material Definitive Agreement

On November 8, 2013, DURECT Corporation (the "Company") announced the pricing of an underwritten public offering of 7,142,858 shares of its common stock, offered at a price of $1.40 per share to the public. All of the shares in the offering were sold by the Company. The offering is expected to close on November 13, 2013. The Company granted the underwriters a 30-day option to purchase up to an aggregate of 1,071,429 additional shares and the underwriters exercised this option in full prior to the closing. As a result, the Company will sell a total of 8,214,287 shares of its common stock in this offering. The gross proceeds to the Company from this offering are approximately $11.5 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by the Company.

Stifel acted as sole book-running manager for the offering and Janney Montgomery Scott acted as co-manager.



Item 8.01. Other Events

On November 8, 2013, the Company issued a press release announcing the pricing of the public offering described in Item 1.01. A copy of the press release is attached hereto as Exhibit 99.1.



Item 9.01. Financial Statements and Exhibits

(d) Exhibits

1.1 Underwriting Agreement, dated November 8, 2013, by and between the Company and Stifel, Nicholaus & Company, Incorporated, as representative for the several underwriters named therein.

5.1 Opinion of Morrison & Foerster LLP

99.1 Press Release dated November 8, 2013.


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