MannKind planning financings

MannKind Corp. (NASDAQ:MNKD) proposed to raise $50 million through the sale of units in a follow-on and up to $161 million through the sale of senior secured convertible notes. The follow-on is underwritten by Jefferies; Piper Jaffray; and Cowen. Each unit comprises a share and a warrant to purchase 0.6 shares. The 7% notes due 2019 will initially convert at $3. Last September, MannKind proposed to sell $370 million in senior secured notes due 2017. The company did not provide an update on that financing. At Dec. 31, MannKind had $3.2 million in cash. ...