MannKind raises $75M in bumped-up follow-on

MannKind Corp. (NASDAQ:MNKD) raised $75 million through the sale of 31.3 million units at $2.40 in a bumped-up follow-on underwritten by Jefferies; Piper Jaffray; Cowen; and JMP Securities. Each unit comprises a share and a four-year warrant to purchase 0.6 shares, with each whole warrant exercisable at $2.40. Mannkind proposed to raise $50 million in a follow-on on Tuesday. MannKind had also proposed to raise up to $161 million through the sale of senior secured convertible notes, but said on Friday it opted not to pursue the debt financing at this time. MannKind also said it elected not to pursue a September 2011 proposal to sell $370 million in senior secured notes due 2017. ...