ARTICLE | Financial News

Amarin raises $12.8 million

October 7, 2004 7:00 AM UTC

Neurology company AMRN raised $12.8 million in a private placement of 13.5 million shares at $0.95. On Oct. 1, chairman Thomas Lynch bought $5 million worth of notes that AMRN had owed to Elan (ELN), $3 million of which were converted into 2.7 million AMRN shares at $1.10. The remaining $2 million may be converted into AMRN shares at the price of any subsequent financing. ...